Grayscale Adds Avalanche (AVAX) and Terra (LUNA) to its Investment Product Consideration List
Grayscale Investments, the world’s largest digital asset manager, is now adding two new crypto assets to its list of investment products it is considering for listing on the platform to institutional investors to invest in.
Terra is an algorithmically-governed stablecoin platform with a native stabilizing crypto asset, LUNA, trading at $49.98, up 7,808% YTD.
Avalanche is an open-source platform for launching decentralized finance (DeFi) applications trading whose native asset is AVAX, trading at $76.20, up 2014%.
While under consideration, not every asset under this list gets turned into investment products.
Already, the consideration list includes thirty-one assets with some notable ones including Solana (SOL), 1inch (1INCH), Polygon (MATIC), Ren (REN), Cardano (ADA), MakerDao (MKR), Aave, Polkadot (DOT), SushiSwap (SUSHI), Yearn Finance (YFI), and Internet Computer (ICP).
“We will continue to update this list as we review additional assets,” said the firm.
Currently, Grayscale offers limited products covering only Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Zcash (ZEC), Horizon (ZEN), Stellar (XLM), Decentraland (MANA), Chainlink (LINK), Basic Attention Token (BAT), Filecoin (FIL), and Livepeer (LPT), and Bitcoin Cash (BCH).
Grayscale has $55.19 billion assets under its management.
As we reported this week, the SEC has started reviewing Grayscael’s application to convert their GBTC into a Bitcoin spot ETF.
US lawmakers Tom Emmer and Darren Soto also wrote a letter to the agency and the Chair Gary Gensler to approve a physically-backed Bitcoin ETF.
“While the trading of two Bitcoin futures ETFs in October is a step forward for the millions of Americans who want to invest in crypto through traditional methods, the onus is on the SEC, now more than ever, to allow Bitcoin spot ETFs to commence trading,” wrote Emmer on Twitter.