Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Polygon, Solana, DeFi On Grayscale’s Radar

Published 06/20/2021, 01:27 AM
Updated 05/08/2020, 11:50 AM

Grayscale has announced it is considering new single asset trust funds for Polygon, Solana, and a range of DeFi tokens.

Key Takeaways

  • Grayscale is exploring 13 cryptocurrencies to potentially offer to clients.
  • The list includes Solana, Polygon, and a range of DeFi tokens.
  • The firm clarified that not all assets under its consideration will be offered as an investment products.

Grayscale is exploring 13 new cryptocurrencies as tentative investment offerings, including Polygon and Solana’s native tokens.

Grayscale Considering 13 New Assets

Grayscale is weighing up adding a new list of assets to its range of products.

The investment giant published a blog post listing 13 new “assets under consideration” Thursday. The category represents assets Grayscale may support in the future.

Included in the list were a number of scalable networks that either compete or offer interoperability with Ethereum, such as Solana, Polygon, Internet Computer, and NEAR.

The list also includes a variety of DeFi tokens including 1INCH, Bancor, Curve, Kava, Kyber, Loopring, Ren, and 0x.

Grayscale previously announced that it was exploring 23 potential offerings in February; the list included projects like Aave, MakerDAO, and Polkadot.

Grayscale is the largest digital asset manager worldwide, with over $34 billion in assets under management as of last week. The firm operates trust funds and sells shares that give accredited investors exposure to various standalone cryptocurrencies.

In its latest announcement, Grayscale said it was updating its list of assets under consideration as part of its commitment to transparency. Grayscale further clarified that not all assets under its consideration will be offered as investment products due to factors such as internal controls, custody arrangements, and regulations.

Grayscale’s long list of tentative new offerings indicates that the firm is preparing to meet investors’ growing interest in areas like DeFi and highly scalable blockchains.

In regards to single-asset investment products, the firm currently offers 13 cryptocurrencies, many of which its parent entity, Digital Currency Group, has made direct investments into.

These include single asset trust funds in Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, Horizon, Basic Attention Token, Chainlink, Decentraland, Filecoin, Livepeer, Stellar Lumens, and ZCash.

It also offers a diversified fund called the Grayscale Digital Large Cap Fund (OTC:GDLC).

Original Post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.