Grayscale, one of the largest cryptocurrency asset managers globally, is widening its scope by adding 35 altcoins to its list of assets under consideration for future investment products.
This announcement, made through a blog post, includes a diverse range of tokens from established altcoins like Dogecoin (DOGE) to newer players such as Worldcoin (WLD) and Rune (RUNE). These tokens span five primary categories: currencies, smart contract platforms, financials, culture, and utilities.
Smart Contract Tokens
Among the most significant additions are tokens for smart contract platforms, which form a core focus of Grayscale’s latest move. Some prominent candidates include Aptos (APT), Sei (SEI), Celestia (TIA), and Mantle (MNT), all representing potential alternatives to Ethereum as layer-1 blockchain networks.
Grayscale also named several other well-known blockchain ecosystems, including Arbitrum (ARB), Cosmos (ATOM), Polygon (MATIC), Toncoin (TON), and Tron (TRX), suggesting a growing appetite for diversification within its portfolio.
Memecoins and Solana-Based Projects Catch Grayscale’s Eye
In addition to layer-1 platforms, Grayscale is also exploring projects within the consumer and culture space. Dogecoin (DOGE), a memecoin with widespread popularity, was included in the list, along with the crypto gaming network Immutable (IMX). These could eventually join the ranks of existing products like Basic Attention Token (BAT) and Decentraland (MANA).
Interestingly, Grayscale also spotlighted three Solana-based tokens: Jupiter (JUP), a decentralized exchange; Pyth (PYTH), a blockchain oracle; and Helium (HNT), a decentralized infrastructure network. The focus on Solana’s ecosystem indicates Grayscale’s belief in the platform’s resilience and growth potential, especially as it expands its offerings beyond traditional assets.
Grayscale’s Recent Product Launches
This latest consideration list comes after a series of new product launches from Grayscale in recent months. The firm introduced an Aave investment fund on October 3, an XRP Trust on September 12, and an Avalanche fund on August 22. Grayscale continues to dominate the institutional crypto space, with over $12.8 billion worth of Bitcoin under its Grayscale Bitcoin Trust ETF (GBTC). Despite the recent influx of assets, the firm has seen substantial outflows in its Bitcoin and Ether ETFs, reflecting a challenging market environment.
Grayscale’s continued expansion into altcoins signals its commitment to diversifying its portfolio and capturing market trends in the fast-evolving world of digital assets.
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