- The famous memecoin, Dogecoin as well as leading layer 2 for NFTs and blockchain gaming, Immutable are said to be a good competitor.
- On October 3, Grayscale spread its wings by introducing a new Aave investment fund.
- In January, apart from becoming the biggest holder of Bitcoin, the company became the biggest seller of Bitcoin also.
Grayscale, a leading crypto asset manager has joined about 35 crypto altcoins such as Dogecoin, Worldcoin, Pyth and Rune which are being thought of as the future investment products.
In a blog posted on the website of Grayscale on October 10, it is mentioned that there are five main groups of potential tokens and they are currencies, smart contract platforms, financials, culture as well as utilities.
The majority of the considered assets includes tokens for smart contract platforms. The crypto asset manager has so far chosen a mix of networks, such as alternative layer-1 blockchains like Aptos and Sei as well as Mantle, a DeFi platform.
In the list of assets which are being thought of as future investment products, Grayscale has added some more networks such as Arbitrum, Cosmos, Polygon, Toncoin and Tron. Three Solana-based projects, Pyth, oracle and Helium were also considered while making the list.
Dogecoin- A good competitor
The famous memecoin, Dogecoin as well as leading layer 2 for NFTs and blockchain gaming, Immutable are said to be a good competitor in the area of consumer and culture of the asset manager. Here, they will be responsible for uniting already functioning products of the company for Basic Attention Token (BAT) as well as Decentraland (MANA).
The website of the company has also noted that as of now, around 30 investment products along with 25 single and widely ranged investment trusts for particular crypto, 4 ETFs and 1 active income fund.
On October 3, Grayscale spread its wings by introducing a new Aave investment fund. On September 12, an XRP Trust was launched and on August 22, an Avalanche fund. Following the launches, now the list of potential assets have been introduced.
After holding about 222,300 BTC whose market value is estimated to be $12.8 billion by Grayscale Investments, it positions itself in the list of biggest holders of Bitcoin.
In January, apart from becoming the biggest holder of Bitcoin, the company became the biggest seller of Bitcoin also after it converted GBTC to Exchange Traded Funds. At that time, around $20 billion worth of GBTC shares were sold by the investors after converting the fund.
In July, two spot Ether ETFs were introduced; there were multi-billion outflows by the new products.
A dig into Grayscale
Grayscale is specialized in designing and creating investment products for the virtual economy. The operations of the company works within regulatory framework and the hallmark products are the first SEC reporting funds in the industry.
