Grayscale Launches Proof-of-Stake Investment Fund for Accredited Millionaires

cryptonews.com:

Grayscale, a prominent digital asset management firm, has unveiled plans to launch a “dynamic income fund” dubbed GDIF, focused on investing in proof-of-stake tokens for millionaire investors.

Grayscale Dynamic Income Fund $GDIF is our first actively managed investment product. It seeks to optimize income in the form of staking rewards associated with proof-of-stake digital assets.
For important disclosures and more information: https://t.co/v5IR7nJQY1 pic.twitter.com/YTBJzJJbTQ

— Grayscale (@Grayscale) March 29, 2024

According to a post on X, Grayscale has announced the launch of its new fund, identified by the ticker GDIF, which will be available exclusively to accredited investors with a net worth of at least $2.2 million.

GDIF marks Grayscale’s first actively managed investment product, focusing on overseeing the staking and unstaking of multiple tokens and channeling rewards to its investors.

The fund is designed to take advantage of the growing ecosystem of proof-of-stake tokens and will employ dynamic strategies to maximize returns for accredited investors. Its primary objective is to capitalize on staking rewards associated with proof-of-stake digital assets.

In the announcement, Grayscale specified that interests in GDIF will not be registered under the U.S. Securities Act of 1933 or any state securities laws.

“INTERESTS IN GDIF HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 … OR ANY STATE OR OTHER SECURITIES LAW.”

This means that investors in GDIF investments will not benefit from the protections provided by the Investment Company Act and will not be subject to certain restrictions and requirements under this Act.

While Grayscale’s spot bitcoin ETF, regulated by the Securities and