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DeFi focused: Grayscale exploring 13 more crypto assets for its trusts

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The largest digital asset management company Grayscale Investments has revealed the names of 13 more tokens, the possibility of launching trusts on the basis of which it is considering. These are 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).

As such, according to the latest update, Grayscale is looking to increase its assets under management. With the asset manager taking a key interest in DeFi-focused cryptoassets as we can see. Obviously, due to the fact that the demand for these assets has grown sharply in recent months.

In addition, the latest expansion includes the proprietary assets of high-performance smart contract platforms such as Solana, NEAR, and Dfinity. In total, Grayscale currently has 31 unlaunched products under consideration, while it offers its clients access to 13 trusts.

The company has promised to periodically update the list. At the same time, Grayscale explained that they don’t guarantee the launch of new products based on each of the presented assets.

“Not all pending assets will be converted into one of our investment products, the company warns. – The process of creating an investment product is complex and requires diverse efforts. It involves significant study of the subject and requires significant internal controls, sufficient preparatory work to hold the assets and consideration of the regulatory aspect”.

This used to be the case with Cardano, Tezos and Eos. After being listed for review, the firm later rejected the cryptoassets.

The addition of new crypto assets opens access to tokens to new investors, primarily institutional investors. This, in turn, stimulates demand and, as a result, prices. Several of the assets listed above are showing unprecedented growth this year.

Grayscale is in no hurry to launch new trusts

Note that for the entire time of its existence, Grayscale was in no hurry to launch new trusts.

The original listing dated February 26th contained 23 assets.

In March, based on five of them – Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL) and Livepeer (LPT) – Grayscale created five new investment trusts, bringing the total number under management to fourteen.

Prior to this, the firm had filed applications for the registration of six more new trusts.

Today, they contain 0.1% of all assets under the management of the company, amounting to about $ 34.4 billion. In the total volume of the crypto investment funds market, Grayscale’s share is approximately 75%. The most popular among investors is the Grayscale Bitcoin Trust (GBTC). 73% of assets managed by Grayscale are concentrated in the GBTC Bitcoin trust. Also recently, the Ethereum trust has shown significant growth, the share of which has reached 22%. This year alone, the trusts received over $ 2 billion in cash inflows.

This growth underlines the increased demand for cryptoassets from both institutional and retail investors. In a recent interview with CNBC, Grayscale CEO Michael Sonnenshein stated that investors are confident in the cryptocurrency. The CEO noted that this confidence stems from the fact that governments have begun to impose clear regulatory requirements for digital assets. The CEO also said the current pullback gives investors a chance to save up until the next big move.

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