Grayscale Eyes 35 Altcoins for Future Investment Products
15.10.2024 16:00 1 min. read Kosta Gushterov
Grayscale, a major crypto asset manager, is evaluating 35 altcoins, including Dogecoin and Worldcoin, for potential future investment products.
In a blog post on October 10, the firm organized these assets into five categories: Currencies, Smart Contract Platforms, Financials, Culture, and Utilities.
Most of the new additions focus on smart contract platforms, such as Aptos, Sei, Celestia, and Mantle. Grayscale is also considering tokens from Arbitrum, Cosmos, Polygon, Toncoin, and Tron, as well as three Solana-based projects—Jupiter, Pyth, and Helium.
Dogecoin and Immutable are being explored for the “Culture and Utilities” category, alongside existing products like Basic Attention Token and Decentraland.
Grayscale currently offers 30 investment products, including 25 cryptocurrency trusts and four ETFs. This consideration of new assets comes after the launch of funds for Aave, XRP, and Avalanche.
As one of the largest institutional Bitcoin holders, Grayscale manages about 222,300 BTC, valued at roughly $12.8 billion in its Grayscale Bitcoin Trust ETF (GBTC). Since transitioning GBTC to an ETF, the firm has seen significant outflows, with around $20 billion in shares sold, following the introduction of two spot Ethereum ETFs in July.
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