Grayscale Investments, the subsidiary of Digital Currency Group that has a large portfolio of Bitcoin and Ethereum assets, has been actively exploring new ways to integrate crypto and traditional portfolio investments. Recently, they granted some of their partners permission to expand out of the traditional, custodial model.
Grayscale Investments, a well-known Bitcoin investment firm has announced they are considering the launch of a new type of asset-backed crypto fund to the public, which will be backed by Polygon and Solana.Digital currency asset managers Grayscale have announced the addition of 13 new cryptocurrency projects to their list of assets under review, including new chains such as Polygon (MATIC) and Solana (SOL). The company currently manages 13 single-asset trusts, the largest of which is the Bitcoin Trust, which manages $25 billion. As well as a multi-asset trust of $404 million consisting of BTC, ETH, BCH, LTC and LINK. Rumours about Chainlink’s application at the end of January this year led to a 20% increase in LINK’s share price. Chainlink was one of the many projects being considered at the time. It was able to meet the evaluation criteria for obtaining the trust registration on 26. February 2023. Because of Grayscale’s reputation, tokens that receive a trust record are given the status of a legitimate project. There is also the problem of additional pressure on buyers, which usually leads to higher prices. So Grayscale’s list has become a kind of ledger for speculative investors to look at. But which tokens are retained in the latest version?
GreyscaleList of eligible crypto assets
Starting in February of this year, Grayscale began formally documenting the tokens that were eligible for inclusion in the trust. They consider it important that their activities remain transparent. 1inch (1INCH), Bancor (BNT), Curve (CRV), Internet Computer (ICP), Kava (KAVA), Kyber Network (KNC), Loopring (LRC), NEAR (NEAR), Polygon (MATIC), Ren (REN), Solana (SOL), Universal Market Access (UMA), and 0x (ZRX) added to the list of assets under evaluation. This brought the total number of eligible assets to 31 different tokens. Bold items below refer to lexemen added in the latest version. Image : Investing in shades of gray. Several cryptocurrency titans are featured in the review column, including Cardano, Polkadot and Uniswap. However, Grayscale was quick to point out that this list is by no means a guarantee of inclusion in the Trust. They say the selection process is complex and has many layers. This requires a thorough evaluation and examination of the tokens, based on an analysis of internal controls, storage mechanisms and regulatory issues.
Grayscale has not yet released its report for Q1 2023, so the latest report is for Q4 2023. This was an exceptional quarter for the company, with more than half of the 2023 inflows occurring in the last quarter. Then again, in 2023 there were four times as many applications as in the previous seven years combined. quarterly $3 billion: Grayscale has benefited from unprecedented investor demand with inflows of approximately $3.3 billion. Investment in the Grayscale product family exceeds $5.7 billion by 2023, more than four times the cumulative inflow of $1.2 billion in these products between 2013 and 2019. However, it remains to be seen whether this interest will continue in 2023. Looking at the quarterly performance of Grayscale’s trusts, the picture is mixed, with the Ethereum Classic Trust performing best with a gain of +355%. On the other hand, Basic Attention Token Trust is the worst performer, down 41%.
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