灰度为高净值加密货币投资者推出动态收益基金

Grayscale Investments 推出了封闭式基金——灰度动态收益基金 (GDIC)，专门针对投资组合规模最低为 110 万美元或净资产超过 220 万美元的高净值投资者。该基金旨在通过质押股权证明（PoS）加密货币代币来产生收入，重点是优化质押回报而不是资本增值。

Grayscale Unveils Dynamic Income Fund for Accredited Investors Seeking Cryptocurrency Staking Earning**s

Grayscale 为寻求加密货币质押收益的合格投资者推出动态收入基金**

Grayscale Investments, a leading digital currency asset management firm, has announced the launch of the Grayscale Dynamic Income Fund (GDIC), a specialized investment vehicle designed to provide accredited investors with access to the earnings generated from staking cryptocurrency tokens.

领先的数字货币资产管理公司 Grayscale Investments 宣布推出 Grayscale 动态收入基金 (GDIC)，这是一种专门的投资工具，旨在为合格投资者提供通过质押加密货币代币产生的收益。

The GDIC is exclusively available to clients with over $1.1 million in assets under management (AUM) or a net worth exceeding $2.2 million. The fund aims to convert staking rewards into US dollars on a weekly basis, with quarterly distributions planned for investors. Grayscale emphasizes that it will conduct thorough due diligence to select the Proof of Stake (PoS) tokens that will be included in the fund's portfolio.

GDIC 专门面向管理资产 (AUM) 超过 110 万美元或净资产超过 220 万美元的客户开放。该基金的目标是每周将质押奖励兑换成美元，并计划每季度向投资者分配。 Grayscale 强调，它将进行彻底的尽职调查，以选择将纳入该基金投资组合的股权证明（PoS）代币。

"Grayscale manages the complexity of staking and unstaking various tokens as nearly each token has its own individual timelines and requirements to be staked and unstaked," the company stated.

该公司表示：“Grayscale 管理各种代币质押和解除质押的复杂性，因为几乎每种代币都有自己单独的时间表以及质押和解除质押的要求。”

The primary objective of the GDIC is to optimize staking income from the underlying assets, with capital appreciation as a secondary consideration, according to Grayscale.

Grayscale 表示，GDIC 的主要目标是优化基础资产的质押收入，资本增值是次要考虑因素。

Cryptocurrency staking involves locking up crypto tokens in a blockchain network to secure and validate transactions, in return for earning interest or rewards.

加密货币质押涉及将加密代币锁定在区块链网络中以保护和验证交易，以换取利息或奖励。

Grayscale has identified three PoS tokens that will initially constitute the fund: Osmosis (OSMO), Solana (SOL), and Polkadot (DOT), with respective allocations of 24%, 20%, and 14%. The remaining 43% of the fund's portfolio will be dynamically allocated to other PoS tokens.

Grayscale 已确定最初构成该基金的三种 PoS 代币：Osmosis (OSMO)、Solana (SOL) 和 Polkadot (DOT)，分配比例分别为 24%、20% 和 14%。基金投资组合的剩余 43% 将动态分配给其他 PoS 代币。

As of this writing, OSMO offers an annual staking reward rate of 11.09%, SOL stands at 7.42%, and DOT is at 11.9%, according to data from Staking Rewards. However, only Solana (SOL) ranks among the top ten PoS tokens by market capitalization, based on CoinMarketCap information.

根据 Stake Rewards 的数据，截至撰写本文时，OSMO 提供的年度质押奖励率为 11.09%，SOL 为 7.42%，DOT 为 11.9%。然而，根据 CoinMarketCap 的信息，只有 Solana (SOL) 跻身市值排名前十的 PoS 代币之列。

Grayscale reserves the right to adjust the fund's crypto holdings at its discretion.

灰度保留自行调整基金加密货币持有量的权利。

The launch of the GDIC comes amidst increased regulatory scrutiny of Grayscale's investment products. The company's spot Bitcoin exchange-traded fund (ETF), which debuted in January 2023, has faced criticism due to its high management fees, resulting in significant outflows.

GDIC 的推出正值灰度投资产品监管审查日益加强之际。该公司于2023年1月推出的现货比特币交易所交易基金（ETF）因管理费过高而面临批评，导致资金大量流出。

As of March 26, 2023, the Grayscale Bitcoin Trust (GBTC) had experienced consistent outflows since its inception, totaling over $14 billion as of March 25. In comparison, similar spot Bitcoin ETFs offer an average management fee of 0.30%, significantly lower than Grayscale's 1.5% per annum fee.

截至 2023 年 3 月 26 日，灰度比特币信托基金 (GBTC) 自成立以来经历了持续的资金流出，截至 3 月 25 日资金总额超过 140 亿美元。相比之下，类似的现货比特币 ETF 的平均管理费为 0.30%，明显低于Grayscale 的年费为 1.5%。

Despite these challenges, Grayscale continues to face regulatory hurdles in obtaining approval from the US Securities and Exchange Commission (SEC) for its Ethereum Futures exchange-traded fund (ETF).

尽管存在这些挑战，Grayscale 在获得美国证券交易委员会 (SEC) 批准其以太坊期货交易所交易基金 (ETF) 方面仍面临监管障碍。

The GDIC is a testament to Grayscale's commitment to providing institutional investors with diversified exposure to the cryptocurrency market. By offering a fund that focuses on staking income, Grayscale is catering to the growing demand for yield-generating cryptocurrency investments.

GDIC 证明了灰度致力于为机构投资者提供加密货币市场的多元化投资。通过提供专注于质押收入的基金，灰度正在满足对产生收益的加密货币投资不断增长的需求。