Grayscale added 13 new cryptocurrencies to its list of assets under consideration, exhibiting significant interest in DeFi

On February 26, 2021, Grayscale Investments published an initial list of assets that they are considering for inclusion in their product family. The institutional asset manager has now announced 13 more cryptocurrencies for consideration for its crypto investment trust product suite.

Grayscale Investments exploring 13 additional cryptocurrencies

The institutional asset manager announced 13 more crypto assets are currently under consideration for its suite of crypto investment trust products.

They stated:

“In the spirit of our commitment to transparency, we are updating this list with thirteen additional assets: 1inch (1INCH), Bancor (BNT), Curve (CRV), Internet Computer (ICP), Kava (KAVA), Kyber Network (KNC), Loopring (LRC), NEAR (NEAR), Polygon (MATIC), Ren (REN), Solana (SOL), Universal Market Access (UMA), and 0x (ZRX).”

grayscale-added-13-new-cryptocurrencies-to-its-list-of-assets-under-consideration

Source: Grayscale Investments

According to Grayscale, the potential assets mainly represent the decentralized finance (DeFi) sector. This includes 1inch, Bancor, Curve, Kava, Kyber Network, Loopring, Polygon, Ren, Universal Market Access, and 0x. Additionally, Solana, Near, and Dfinity have also been added to Grayscale’s list of considered cryptocurrencies.

Now, with this announcement, Grayscale has brought the total number of cryptocurrencies being explored to 31. Grayscale currently offers products that track the performance of 13 different assets.

Grayscale emphasizes that:

“As a reminder, not every asset under consideration will be turned into one of our investment products. The process of creating an investment product similar to the ones we already offer is a complex, multifaceted process. It requires significant review and consideration and is subject to substantial internal controls, sufficiently secure custody arrangements, and regulatory considerations.”

Meanwhile, Grayscale has announced that Grayscale trusts represent 75% of the $44.3 billion total assets under management in the institution’s crypto investment products. More than $2.3 billion has been invested in Grayscale trusts since the beginning of 2021.

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