Participation in GDIF will be open only to accredited and qualified investors with a net worth of at least $2.2 million. GDIF will be positioned as “Grayscale’s first actively managed investment product” and function as a financial tool for optimizing returns in the form of digital asset staking (PoS) rewards.
Grayscale clarified that due to the nature of the investment product, the fund “will not be registered as a unique investment company, and GDIF investors will not be subject to protection under the provisions of the Investment Company Act of 1940 or other state securities laws.”
Staking rewards will need to be denominated in each blockchain's native token. In this case, rewards to investors will be converted into US dollars and paid quarterly. The right to choose the blockchain, placement and method of withdrawal of digital assets remains with the GDIF administration.
Earlier it became known that Grayscale Investments filed an application with the US Securities and Exchange Commission (SEC) to create a mini-trust fund for Bitcoin in order to attract new investors.
Source: Bits
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