Grayscale Adds DOGE and 34 Altcoins to List of Potential Investment Products

Grayscale, a leading crypto asset management firm, has announced the addition of 35 cryptocurrencies to its list of assets under consideration for future investment products. This list, revealed in an October 10 blog post, includes popular tokens such as Dogecoin and Worldcoin, alongside a range of other altcoins. The assets are grouped into five main categories: currencies, smart contract platforms, financials, culture, and utilities.

Which currencies are being eyed by Grayscale?

Among the new tokens being evaluated, many are associated with smart contract platforms. These include alternative layer-1 blockchains like Aptos, Sei, and the data availability network Celestia, along with Ethereum scaling solution Mantle. Other notable tokens under consideration come from networks such as Arbitrum, Cosmos, Polygon, Toncoin, and Tron. These assets are being examined for their potential to become future Grayscale investment products.

Grayscale has also shown interest in tokens from several Solana-based projects, specifically those associated with the decentralized exchange Jupiter, blockchain oracle Pyth, and decentralized infrastructure network Helium.

Memecoins and culture-related tokens have not been left out of the mix, with Dogecoin and the crypto gaming network Immutable receiving consideration under Grayscale’s “consumer and culture” vertical. If selected, these tokens would join existing Grayscale products for Basic Attention Token (BAT) and Decentraland (MANA), which cater to similar markets.

Important Updates on Grayscale’s latest additions

Currently, Grayscale offers a broad suite of 30 different investment products, which includes 25 single and diversified investment trusts focused on specific cryptocurrencies, four exchange-traded funds (ETFs), and a dynamic income fund.

This latest update follows a period of growth for the firm. Grayscale recently launched new funds, such as an Aave investment fund on October 3, an XRP Trust on September 12, and an Avalanche fund on August 22.

Grayscale Investments remains one of the largest institutional holders of Bitcoin, managing over 222,000 BTC through its Grayscale Bitcoin Trust ETF (GBTC). Despite converting GBTC into an ETF in January, the firm has seen significant net outflows, with investors selling off a net $20 billion worth of GBTC shares since the conversion. Grayscale also experienced substantial outflows from its two spot Ether ETFs, which were launched in July.

This ongoing expansion underscores Grayscale’s ambition to offer investors a wider range of crypto assets and investment options, reflecting the evolving nature of the cryptocurrency market.

Source: Cointelegraph

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