Grayscale adds 25 more projects to the list of potential investments

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2022-01-26 15:19:18

The world’s largest cryptocurrency investment fund Grayscale has just added 25 new altcoins to its list of potential investments including popular DeFi and metaverse projects.

Grayscale adds 25 more projects to the list of potential investments

Grayscale’s list of assets under review stands out with recent prominent layer 1 blockchains such as Algorand (ALGO), Cosmos (ATOM), Fantom (FTM), Oasis Network (ROSE), etc. some familiar metaverse names, including The Sandbox (SAND), Axie Infinity (AXS), Enjin (ENJ), Gala (GALA) and Yield Guild Games (YGG). Grayscale periodically updates this list as well as the assets the fund holds.

Grayscale said it considers the additional candidate representative that may be included in the official investment product in the future, but does not mean that every asset under consideration will be successfully deployed. Grayscale may also consider properties that are not currently on the list. Currently, there are 44 altcoins being discovered by Grayscale.

Altcoins that are on Grayscale's investment review list.  Source: Grayscale
Altcoins that are on Grayscale’s investment review list. Source: Grayscale

The year 2021 has marked an interesting shift in Grayscale’s “investment taste”. Since Ripple began to face regulatory hurdles with the SEC, the fund immediately decided to choose Chainlink (LINK) to replace XRP. Next, Grayscale launched investment funds for 5 new altcoins including Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL) and Livepeer (LPT).

Moreover, Grayscale continued to launch DeFi investment fund in mid-July, with the top choices in the field of Uniswap (UNI), Aave (AAVE), Compound (COMP), Curve ( CRV), MakerDAO (MKR), SushiSwap (SUSHI), Synthetix (SNX), Yearn Finance (YFI), UMA Protocol (UMA), Bancor Network Token (BNT).

However, with seemingly negative performance from UMA Protocol (UMA) and Bancor Network Token (BNT), Grayscale decided to move these two projects back to the review list. Combined with the recent additions of Cardano (ADA), Solana (SOL) and Amp (AMP) recently, Grayscale’s portfolio of investment products now amounts to 24 protocols.

These altcoins are on the official Grayscale investment list.  Source: Grayscale
These altcoins are on the official Grayscale investment list. Source: Grayscale

As of Jan. 24, Grayscale’s total crypto assets under management (AUM) is approaching $30.6 billion, down 50% or $30.3 billion from the $60.9 billion peak seen This is not a surprising result, because Bitcoin has been extremely stagnant throughout the past 2 months, at one point crashing to 33,000 USD, affecting the entire market.

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