Outside Source
Grayscale listed 35 cryptocurrencies it’s mulling to potentially include in its suite of crypto investment products.
News
Crypto asset manager Grayscale has added 35 crypto altcoins, including Dogecoin, Worldcoin, Pyth, and Rune, to a list of assets that are “under consideration” for future investment products.
In an Oct. 10 blog post, Grayscale broke down its list of prospective tokens into five primary categories: Currencies, smart contract platforms, financials, culture, and utilities.
Most of the newly considered assets were tokens for smart contract platforms, with the firm picking a mix of networks, including alternative layer-1 blockchains Aptos (APT) and Sei (SEI), data availability network Celestia (TIA), and Ethereum scaling solution Mantle (MNT).
Grayscale also listed the tokens of several other networks, including Arbitrum (ARB), Cosmos (ATOM), Polygon (MATIC), Toncoin (TON), and Tron (TRX), as assets that are potentially worthy of making it into investment products.
Grayscale listed 16 smart contract platforms as potential fund prospects. Source: Grayscale
Grayscale also mulled adding three Solana-based projects, including tokens for the decentralized exchange Jupiter (JUP), blockchain oracle Pyth (PYTH), and decentralized infrastructure network Helium (HNT).
Popular memecoin Dogecoin (DOGE) and crypto gaming network Immutable (IMX) were considered as potential entrants under the asset manager’s “consumer and culture” vertical, where they would join Grayscale’s existing products for Basic Attention Token (BAT) and Decentraland (MANA).
Related: Grayscale launches investment fund for MakerDAO token
Grayscale currently offers a total of 30 different investment products, including 25 single and diversified investment trusts for specific cryptocurrencies, four exchange-traded (ETFs), and one dynamic income fund, according to its website.
The new list of prospective assets comes after a fresh wave of expansion for Grayscale, which launched a new Aave investment fund on Oct. 3, an XRP Trust on Sept. 12, and an Avalanche fund on Aug. 22.
Grayscale Investments is one of the world’s largest institutional holders of Bitcoin (BTC), holding 222,300 BTC worth $12.8 billion in its spot Bitcoin ETF, the Grayscale Bitcoin Trust ETF (GBTC).
Since converting GBTC to an ETF in January, Grayscale has become one of the largest institutional sellers of Bitcoin, with its investors unloading a net $20 billion worth of GBTC shares since the fund’s conversion.
After launching two spot Ether ETFs in July, Grayscale has once again witnessed combined multi-billion outflows from the new products.
Magazine: 10 crypto theories that missed as badly as ‘Peter Todd is Satoshi’
This article first appeared at Cointelegraph.com News
