Grayscale Looks At Altcoins Amid Rising Competition For Bitcoin Investments

As Bitcoin (BTC) exchange-traded funds (ETFs) are gaining traction in Canada, new competitors for Grayscale emerge, the company is increasingly eyeing altcoins.

The major crypto asset management firm owned by Digital Currency Group (DCG) has confirmed that they’re looking into at least 23 different digital assets “for potential new product offerings,” as the press release stated.

“We may not turn each of these assets into one of our landmark investment products,” said Grayscale CEO Michael Sonnenshein, and added that they “view it as our responsibility to introduce investors to more diversity in this space.”

There is no guarantee that assets named in the above list will receive a corresponding investment product, the company stressed. “The process of creating an investment product structured similarly to those Grayscale already offers requires significant review and consideration, and is subject to substantial internal controls, sufficiently secure custody arrangements, and regulatory considerations,” it said.

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