Grayscale is looking to add more coins — 13 new cryptos are being considered
Grayscale is a well-known institutional asset manager, and one of the go-to asset managers for institutional investors interested in cryptocurrencies. The company has been making headlines for two years now regarding the amount of crypto assets that it has been acquiring and holding on behalf of its clients.
The demand seems to be growing even further, given the fact that the company recently announced 13 more crypto assets that are currently being considered for its crypto investment trust products.
The company revealed the assets which are currently being researched and considered earlier today, June 18th. The specific coins and tokens include Bancor, 0x, 1inch, Kyber Network, Universal Market Access, Kava, Loopring, Ren, and Polygon (formerly Matic). In addition to these, the company also added three tokens native to very scalable, high-speed networks — Solana, Dfinity, and Near.
We’re always exploring new assets that can help us grow our family of investment products. Here are 13 additional we'll explore: $1INCH $BNT $CRV $ICP $KAVA $KNC $LRC $NEAR $MATIC $REN $SOL $UMA $ZRX. Follow along to get updates as we expand this list! https://t.co/5BU92rVZOM— Grayscale (@Grayscale) June 17, 2021
Institutional investors still mostly want Bitcoin
With the 13 new additions to the list of coins to be considered, Grayscale is now officially looking into 31 different assets. However, when it comes to the number of assets that it already offers, there are only 13 of them at the time of writing.
The company stressed that not all assets under consideration will be joining its investment products. In fact, it might happen that none of them will join if the company finds reasons against listing them. However, with 31 assets to choose from, chances are that some might make the list, after all.
The company previously introduced 5 new trusts earlier this year, in mid-March. Back then, it added products for Basic Attention Token, Decentraland, Livepeer, Chainlink, and Filecoin. At this time, these five trusts represent only 0.1% of Grayscale’s assets under management. In total, the company currently holds $34.4 billion on behalf of its clients.
Its Bitcoin Trust, on the other hand, represents 73% of this total, so Bitcoin is still the primary crypto that institutions are interested in, with some slowly opening up to alternative coins.