Significant Interest in DeFi from Grayscale: 13 New Cryptos Eyed

Significant Interest in DeFi from Grayscale: 13 New Cryptos Eyed

• The push for crypto investments intensifies as investors stay sharp for more tokens.
• Crypto investment managers, Grayscale are exploring 13 more assets for their trust with assurance to be more robust.
• The firm pushes its attention to DeFi solution utility tokens to complement its existing cryptocurrency trust.
• More assets in Grayscale’s trust means more adoption for cryptocurrencies; a huge development for the industry.

As the global mass adoption for digital assets edges on, corporations are doing all they can to add more crypto offerings to the portfolios of their wealthy clients. Grayscale, a crypto investments management company is increasing its dominance in the sector by exploring 13 new digital assets to add to its cryptocurrency investment products.

This decision by Grayscale is intended to keep the company in pole position in crypto investment management after many big banks have announced they will offer a wide range of crypto assets to their clients. The native tokens of Solana, Dfinity, and other DeFi platforms are under consideration to be added to Grayscale’s list of trust products.

13 New Products to Be Added: Grayscale Pushes to Be More Robust

The crypto investment management company Grayscale announced on June 18 that it is considering an additional 13 tokens which will be added to the current products it offers.

The new assets under consideration will bring the total number of assets being explored by Grayscale to 31. The company currently offers products on 13 assets to its clients.

The new assets being monitored show a push towards DeFi. DeFi tokens are as viable as traditional cryptocurrencies in terms of investment and Grayscale plans on adding them to its trusted products.

As a follow-up, the company stated that “not every asset under consideration will be turned into one of its investment products,” as seen in the past with Cardano and Tezos. Mainly representing DeFi tokens, the assets under consideration include: “1INCH $BNT $CRV $ICP $KAVA $KNC $LRC $NEAR $MATIC $REN $SOL $UMA $ZRX.”

As the company plans to expand its family of investment products, popular among the new products being considered are Polygon and the utility native tokens of scalable blockchains, Solana, Dfinity, and Near.

This shows that Grayscale means business. On March 17, Grayscale added five tokens: Basic Attention Token, Chainlink, Decentraland, Filecoin, and Livepeer.

On the Flipside

• Grayscale’s announcement has made promises but is not an assurance they will become more robust.
• The high volatility of the crypto market and competition from banks may stifle Grayscale’s growth.

A Good Development for Grayscale and the Cryptoverse

Whichever way one looks at this development, it is a win for cryptocurrencies and Grayscale. Grayscale, a Subsidiary of Digital Currency Group, has been pushing to maintain its place as the leading digital assets management company. Grayscale currently controls $34.4 billion in its assets under management.

According to Coinshares, Grayscale currently controls a market share of 75%. This year has been good with over $2.3 billion invested in Grayscale’s products so far.

The push to DeFi will make the company more robust as its clients will be offered more options and utility tokens of DeFi solutions are lucrative. This move by Grayscale will also impact cryptocurrencies in general as more money will be pumped into the market.

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