Grayscale Investments Includes 25 New Cryptos Under Its Radar

Grayscale Investments, which manages cryptocurrency investment funds and a subsidiary of the Digital Currency Group, has added 25 new digital assets to its “under consideration” list.

The crypto investment giant said Monday that the addition is a part of the “exploration” of the crypto sector. These “assets under consideration” include tokens for a number of DeFi, metaverse, and NFT projects.

Some of the digital assets include Algorand (ALGO) and Convex (CVX) for DeFi projects, The Sandbox (SAND), Axie Infinity (AXS), and Enjin (ENJ) for metaverse protocols.

Some of these assets would either join the range of single-asset products like Grayscale Bitcoin Trust or the Grayscale Ethereum Trust, or the multi-asset product Grayscale Digital Large Cap Fund.

Grayscale views the addition of new digital assets as its “responsibility to introduce investors to the diversity in this space.”

“Assets under consideration lists some digital assets that are not currently included in a Grayscale investment product, but that has come to our attention as part of our exploration of this sector,” the company announcement noted.

Earlier this month, Grayscale rebalanced its DeFi fund quarterly, adding the Flexa’s amp (AMP) token and excluding Universal Market Access (UMA) and Bancor (BNT).

We have just announced updated component weightings for Grayscale #DeFi Fund, which now includes $AMP. This is the first time AMP will be included in a Grayscale investment vehicle. Read this thread for more: pic.twitter.com/jfKAih24cS

— Grayscale (@Grayscale) January 3, 2022

Assets Currently Active

Grayscale already lists an array of 23 cryptocurrencies under its “Grayscale’s Product Family.” This includes Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, Solana, Cardano, among other digital assets.

Despite a more complicated market, Grayscale’s desire – to diversify its offer and remain a leader in the smart money segment – remains unchanged.

The asset manager has clearly indicated that the new addition of crypto assets are only hypotheses under study and that Grayscale will not integrate every asset under consideration into its product catalog.

“Grayscale may explore additional assets other than those included in the Assets Under Consideration table for inclusion in Grayscale Products. Similarly, assets could be included in the Grayscale Product family without first being listed on this table,” the firm added.

Grayscale Tiptoes Into Crypto Space

Grayscale Investments announced last week, its partnership with Bloomberg to launch a new crypto-based index dubbed – Bloomberg Grayscale Future of Finance Index (BGFOF).

The index aims to track 22 companies associated with several crypto-linked equities as well as other financial institutions in the fintech space.

Grayscale Investments applied to the Securities and Exchange Commission (SEC) in October, asking to convert GBTC into an ETF, but regulators have delayed a decision on a spot bitcoin exchange-traded fund (ETF) proposal from Grayscale.

This followed a written letter from Grayscale to the SEC, saying that the regulator is “breaking the law”. In the letter, Grayscale lawyers argued that the SEC’s preference for BTC futures ETFs over a Bitcoin spot ETF seems to be “arbitrary and capricious.”