Digital asset manager Grayscale Investments has just announced the launch of the Grayscale Ex-Ethereum Fund (GSCPxE), a fund based on smart contract platforms.
The product tracks the CoinDesk Smart Contract Platform Select Ex ETH index, the company has reported on a press release.
As of March 16, the market-cap-weighted portfolio based on instrument included Cardano, Solana, Avalanche, Polkadot, Polygon, Algorand and Stellar.
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Michael Sonenshine, CEO of Grayscale, has said of this new product:
"The beauty of GSCPxE is that investors don’t have to choose one winner, but instead can access the development of the ecosystem through a single investment mechanism."
This new fund is open for subscription by accredited institutional and qualified private investors and does not include Ethereum.