7 October 2022
Grayscale to Consider 13 New crypto trusts, including Polygon and Solana
Investment Giant Grayscale has listed 13 new cryptocurrencies as tentative investment offerings, including Polygon and Solana native tokens.
Grayscale is the largest digital asset manager globally. Currently, it operates 13 single asset trusts, the biggest one being the Bitcoin Trust, with a $25 billion valuation. It also operates a multi-asset trust of $404 million valuations, consisting of BTC, ETH, BCH, LTC, and LINK.
Grayscale published a blog post listing 13 new "assets under consideration". The list included many scalable networks that either compete or offer interoperability with Ethereum, such as Solana, Polygon, Internet Computer, and NEAR. The list also included various DeFi tokens like 1inch, Bancor, Curve, Kava, Kyber, Loopring, Ren, and 0x.
In February, the asset manager had announced that it was exploring over 23 potential new assets. However, only five were launched in March: Basic Attention Token, Chainlink, Decentraland, Filecoin and Livepeer.
The addition of new investment products "requires significant review and consideration and is subject to substantial internal controls, sufficiently secure custody arrangements, and regulatory considerations," said the latest announcement.
Grayscale also stated that it was updating its list of assets under consideration as part of its commitment to transparency. It further clarified that only a few assets under its consideration would be offered as investment products due to factors such as internal controls, custody arrangements, and regulations.
It seems that the firm is preparing to meet investors' growing interest in areas like DeFi and highly scalable blockchains. Grayscale's latest announcement comes after Morgan Stanley announced that it's set to expand on the Bitcoin fund options it offers. It became the first major US bank to launch a crypto investment fund in March—nipping at Grayscale's heels.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
