Grayscale, one of the world’s largest institutional cryptocurrency asset managers, has revealed a list of 35 cryptocurrencies it’s considering for potential inclusion in its suite of investment products. This move signals the company’s intent to diversify its offerings and capitalize on the growing interest in various sectors of the crypto market.
The list, announced in an October 10 blog post, spans five primary categories: currencies, smart contract platforms, financials, culture, and utilities. Notable additions include the meme-inspired Dogecoin, Sam Altman’s Worldcoin, and several emerging blockchain networks such as Aptos, Sei, and Celestia. Grayscale’s consideration of these assets reflects the evolving landscape of the cryptocurrency ecosystem, with a particular focus on smart contract platforms and Layer-1 solutions.
This expansion of potential assets comes on the heels of Grayscale’s recent product launches, including new funds for Aave, XRP, and Avalanche. The company currently offers 30 different investment products, ranging from single-asset trusts to diversified funds and ETFs. As the largest institutional holder of itcoin">Bitcoin, with its Grayscale itcoin">Bitcoin Trust ETF (GBTC) holding 222,300 BTC valued at $12.8 billion, Grayscale’s moves are closely watched by investors and market analysts alike.
However, Grayscale’s expansion plans come amid a backdrop of significant outflows from its existing products. Since converting GBTC to an ETF in January, the fund has experienced net outflows of $20 billion. Similarly, its recently launched Ether ETFs have seen multi-billion dollar outflows. These trends highlight the challenges and volatility inherent in the cryptocurrency market, even as institutional interest in digital assets continues to grow.
