Grayscale Is Considering 13 More Digital Currencies For Its Trusts


Grayscale has further included 13 cryptocurrencies into its list of assets that are under consideration showing its greater interest in DeFi. It has been declared by Grayscale, being an institutional asset manager, that additional 13 crypto assets are being analyzed to figure out their suitability for the investment in the trust products.

On the 18th of June, it has been revealed by the firm that the field of DeFi (Decentralized Finance), including Universal Market Access, Polygon, 0x, Ren, Loopering, Kyber Network, Kava, Curve, Bancor, and 1inch are being represented by the assets. The native tokens of scalable networks incorporating blockchain, which has a high speed, are supplemented to the record of considerable cryptocurrencies under Grayscale, which includes Solana, Definity, and Near.

Grayscale expressed on Twitter that they are delving into the new assets which can assist them in expanding their circle of investment products. In the tweet, all the new 13 assets being considered were mentioned. The tweet added that the inclusion of those assets was done on the 26th of February. The sum of the previous and the latest assets count to 31, but the services are only being provided to the 13 up till now.

It is emphasized by Grayscale that each of the assets being examined will not be made an investment product of the firm, just like in the case of formerly declared assets to be under consideration, including Tezos, Eos, and Cardano. On 17th March, Grayscale launched the five latest trusts that included the products for Livepeer, Filecoin, Decentraland, Chainlink, and Basic Attention Token. Currently, 0.1% of $34.4 billion acquired by Grayscale in AUM (assets under management) is represented by these trusts.

As CoinShare Says, from the sum of $44.3 billion value of assets the 75% is being represented by trusts of Grayscale in the investment products related to institutions. It further includes that the Bitcoin (BTC) Trust represents 73% of the total AUM possessed by Grayscale. Moreover, in crypto-related investment products as a whole, over 56% of the jointly managed assets are represented by the Bitcoin Trust of the company.

The Ethereum (ETH) Trust of the firm has also observed progress earlier this year. Approximately 22% of the managed capital has been represented by the ETH Trust. All the Trusts under Grayscale except for BTC and ETH represent only 5% of the combined AUM of the firm.

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