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One of the largest crypto investment managers in the industry, Grayscale, is partnering with TradeBlock on a new decentralized finance (DeFi) fund, TradeBlock said in a press release on 19 July.

According to the announcement, the Grayscale DeFi Fund will provide investors with exposure to “a selection of industry-leading DeFi protocols”, such as Uniswap (UNI) and Aave (AAVE). Through the new fund, institutional investors will be able to allocate money towards DeFi, without the need of buying tokens. The CEO of Grayscale Investments, Michael Sonnenshein, said in a statement:

“The emergence of decentralized finance protocols provide clear examples of technologies that can redefine the future of the financial services industry. We’re proud to offer investors exposure to DeFi through Grayscale’s trusted, secure, and industry-leading investment product structures.”

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Grayscale’s 15’th crypto investment product will only be available to “eligible individual and institutional accredited investors”, and while the company will try to have shares of the new product quoted on a secondary market, there were no “guarantee this will be successful”.

The creation of the Grayscale DeFi Fund is the result of the growing interest in the crypto assets and decentralized finance spaces. The DeFi industry is one of the fastest growing, with the collateral being locked into protocols having increased almost 20 times in the past year, and currently being around $50 billion.

Grayscale’s CEO also appeared on CNBC’s Squawk Bos on Monday, where he was asked about other investment possibilities for crypto. Sonnenshein quickly responded that a Bitcoin exchange-traded fund will eventually be approved in the U.S..

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