Major crypto asset manager Grayscale is considering adding 35 new altcoins, including Dogecoin, Worldcoin, Pyth, and Rune, to its potential investment offerings. In a blog post, Grayscale organized these tokens into five main categories: currencies, smart contract platforms, financial assets, culture-based projects, and utility tokens.
Grayscale has added diverse assets to its consideration list, focusing on tokens from smart contract platforms. These include alternative layer-1 blockchains like Aptos and Sei, the data availability network Celestia, and Ethereum’s scaling solution Mantle. Additionally, Grayscale is looking at tokens from several other networks, such as Arbitrum, Cosmos, Polygon, Toncoin, and Tron, as future investment products.
Grayscale explores Solana projects
Grayscale has also been exploring the addition of three Solana-powered projects: Jupiter (a decentralized exchange), Pyth (a blockchain oracle), and Helium (HNT), a decentralized network for infrastructure. Meanwhile, in the “consumer and culture” category, Grayscale is considering adding the popular memecoin Dogecoin and the crypto gaming network Immutable.
If included, they would join other projects already in the lineup, such as Basic Attention Token (BAT) and Decentraland (MANA). According to the website, Grayscale now offers 30 investment products, including 25 single and diversified investment trusts for various cryptocurrencies, four exchange-traded funds (ETFs), and one dynamic income fund.
Consequently, this new lineup of potential assets follows Grayscale’s recent expansion, which includes the launch of an Aave investment fund on Oct. 3, an XRP Trust on Sept. 12, and an Avalanche fund on Aug. 22. Grayscale Investments is among the largest institutional holders of Bitcoin globally, boasting a whopping 222,300 BTC valued at $12.8 billion through its Grayscale Bitcoin Trust ETF (GBTC).
Moreover, after converting GBTC into an ETF in January, Grayscale has emerged as a major player in the Bitcoin market. Since the conversion, investors have sold off a net total of $20 billion worth of GBTC shares. After launching two spot Ethereum ETFs in July, Grayscale saw significant outflows from these new products, totaling several billion dollars.
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