Grayscale Is Considering 23 New Crypto Assets, Especially DeFi Coins, for Offering

Grayscale Investments, the world’s largest asset manager with more than $39 billion in assets under management (AUM), has announced that it is considering several new digital assets for potential new product offerings.

The firm offers its investment products to institutions and individual accredited investors. Chief executive officer Michael Sonnenshein said,

“We're eager to expand our product offerings to better serve our investors.”

“The digital currency universe is constantly evolving, and we seek to identify bold, interesting, and innovative opportunities that satisfy our investors’ demand for differentiated exposure to this burgeoning asset class.”

Currently, the firm offers exposure to a limited number of crypto assets, viz. Bitcoin (BTC), Ethereum (ETH), Stellar Lumens (XLM), Zcash (ZEC), Litecoin (LTC), Bitcoin Cash (BCH), Ethereum Classic (ETC), and Horizen (ZEN).

Amidst the “growing investor demand for exposure to digital assets,” the firm looks at cryptocurrencies particularly related to the decentralized finance (DeFi) sector.

The digital assets currently under consideration include Aave (AAVE), Compound (COMP), Polkadot (DOT), Uniswap (UNI), Sushiswap (SUSHI), Yearn Finance (YFI), Synthetix (SNX), Chainlink (LINK), and MakerDao (MKR), which are popular among the community.

Other coins are The Graph (GRT), Cardano (ADA), Reserve Rights (RSR), Flow (Dapper Labs) (FLOW), Decentraland (MANA), Basic Attention Token (BAT), Cosmos (ATOM), Filecoin (FIL), Livepeer (LPT), Tezos (XTZ), Monero (XMR), Numeraire (NMR), Stacks (STX) and EOS. However, Sonnenshein clarified,

“We may not turn each of these assets into one of our landmark investment products.”

“But as a firm that has been on the vanguard of connecting the legacy financial system with the new, digital currency-driven financial system, we view it as our responsibility to introduce investors to more diversity in this space.”

While there is no guarantee that any of these assets under consideration will be introduced on Grayscale, which is subject to internal controls, sufficiently secure custody arrangements, and regulatory considerations if any newly-created product is indeed chosen, it will be announced separately upon launch.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide