Grayscale Adds Optimism (OP) and Lido DAO (LDO) Projects to Its Product List

Digital asset manager Grayscale Investments has announced that it has added two new altcoins to its product list. This latest move signals the company's intention

Digital asset manager Grayscale has announced two new altcoin additions to its product lineup in a move that will expand its decentralized finance (DeFi) offerings to investors. Most notably, one of the altcoin projects is now eligible for a whole new era of growth.

Here are the altcoin projects that made it to the list and their impact on prices…

Grayscale Adds Optimism, Altcoin Projects to Product Lineup

Grayscale has introduced new Trust products for Optimism (OP) and Lido DAO (LDO) projects. Owned by Digital Currency Group (DCG), Grayscale has been making waves in the industry with its crypto-backed and ETF products.

The Optimism and Lido DAO Trusts follow the addition of XRP, Solana (SOL), Stellar (XLM), and the Decentralized AI Fund trusts last month.

Moreover, the company is expanding its crypto ETF product portfolio. Earlier this month, Grayscale filed for a Solana ETF product, further increasing its presence in the market.

OP, LDO Prices Today After the News

Following the Grayscale announcement, Lido DAO (LDO) saw its 24-hour gains reach 200%. LDO is currently trading at $2.24 with a daily trading volume up by 33%.

On the other hand, Optimism (OP) is reacting to the news with 14% gains. OP is currently trading at $2.58 and reached a high of $2.61 during the day.

Lido, Optimism Play a Role in Ethereum Ecosystem

“While Lido makes Ethereum staking more accessible, Optimism helps scale Ethereum faster and more efficiently, enabling it to compete with newer, faster Layer 1 blockchains,” said Grayscale Director of Product and Research Rayhaneh Sharif-Askary, highlighting the contributions of these projects to the Ethereum ecosystem.

These Grayscale Lido DAO Trust and Grayscale Optimism Trust offer opportunities to invest in protocols that help enhance Ethereum’s efficiency, security, scalability, and adoption within the DeFi ecosystem, which is a critical part of the story for Ethereum,plas Sharif-Askary adds.

What Do the New Grayscale Products Do?

The Grayscale Lido DAO Trust provides investors with exposure to Lido’s governance token, LDO, which makes staking more accessible while securing the Ethereum network. Lido aims to make staking more accessible, thus securing the Ethereum network more effectively.

The Grayscale Optimism Trust enables investors to invest in the OP token. Optimism utilizes Optimistic Rollups, a Layer 2 solution designed to increase Ethereum’s scalability and reduce transaction costs. The protocol is building a network of interconnected independent blockchains, called the Superchain, to achieve greater scalability.

These Trust products are now available for daily subscriptions to eligible individual and institutional investors. The Trusts will invest solely in LDO and OP, respectively. As you have been following on Kriptokoin.com, Grayscale recently added support for 19 altcoins.

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