Grayscale Launches Lido and Optimism Governance Token Funds

Grayscale Investments has announced the launch of two new investment funds for Lido and Optimism’s governance tokens, LDOLDO and OPOP. The announcement was made on December 12th.

The Grayscale Lido DAO Trust and Grayscale Optimism Trust offer investors exposure to the native tokens of Ethereum’s largest liquid staking token (LST) protocol and one of its most popular layer-2 (L2) scaling solutions, respectively. These trusts are designed to provide a way for investors to gain access to the governance tokens of these two protocols.

Lido: Democratizing Staking on Ethereum

According to Rayhaneh Sharif-Askary, Grayscale’s head of product and research, "Lido is helping to democratize staking on Ethereum, and Optimism is critical in allowing Ethereum to scale to compete with newer, faster layer 1 blockchains."

The Lido protocol issues tradeable tokens representing claims on an underlying pool of staked Ether (ETH). It currently boasts nearly $40 billion in total value locked (TVL), making it the largest decentralized finance (DeFi) protocol by TVL, according to DefiLlama.

Optimism: Scaling Ethereum

Optimism is a popular L2 network with approximately $800 million in TVL, according to DefiLlama. Its technology stack is used by other L2s, including Coinbase’s Base and Uniswap’s Unichain, creating a network of interlinked L2s that Optimism dubs the "superchain."

Expanding Grayscale’s Suite of Crypto Funds

The launch of these two new trusts adds to Grayscale’s suite of single-asset crypto investment products. In October, Grayscale launched an investment fund for Aave’s governance token, AAVE (AAVE). The company also added 35 crypto altcoins, including Dogecoin (DOGE), Worldcoin (WLD), Pyth (PYTH), and Rune (RUNE), to a list of assets that are "under consideration" for future investment products.

Grayscale’s Growing Portfolio

Grayscale is the world’s largest crypto fund manager, with nearly $35 billion in assets under management as of December 11. The company is best known for its Bitcoin (BTC) and ETH exchange-traded funds (ETFs), including Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE).

Regulatory Developments

United States regulators are mulling permitting Grayscale Digital Large Cap Fund (GDLC), which holds a diverse portfolio of cryptocurrencies, as an ETF.

Conclusion

The launch of the Grayscale Lido DAO Trust and Grayscale Optimism Trust expands Grayscale’s suite of crypto funds, offering investors exposure to two of the most promising protocols in the Ethereum ecosystem. With its growing portfolio and expanding range of investment options, Grayscale continues to solidify its position as a leading player in the crypto fund management space.

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About Grayscale Investments

Grayscale is a leading provider of cryptocurrency investment products, offering investors access to a range of digital assets through its suite of trusts and funds. With nearly $35 billion in assets under management, Grayscale continues to innovate and expand its product offerings in the rapidly evolving crypto market.

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