Bitcoin ETF Giant Grayscale (GBTC) Introduces a Crypto Staking Fund
Powered by @unfolded- Grayscale has introduced a new fund, the Grayscale Dynamic Income Fund (GDIF), which stakes cryptocurrencies to earn income from assets for nine blockchains.
- The fund aims to distribute rewards in U.S. dollars on a quarterly basis and allows investors to participate in multi-asset staking through a singular investment vehicle.
- Staking plays a key role in how some blockchains work, allowing owners of tokens to pledge their assets to run the network and generate income.
- The introduction of the fund coincides with the crypto rally, with Bitcoin hitting an all-time high and valuations for Ethereum's ether and most other tokens remaining below their highs from the previous crypto cycle.