Grayscale Adds 13 DeFi Related Crypto Assets to List Under Consideration

UTC by staff writer · 2 min read
Grayscale Adds 13 DeFi Related Crypto Assets to List Under Consideration
Photo: Shutterstock

The number of prospective assets to be added by Grayscale has now been increased to 31.

Thirteen additional crypto assets were appended to the already exhaustive list of Grayscale ‘New Potential Products’. The Digital Currency Investing Giant primarily included assets that represent the Decentralized Finance sector, an open system built for the age of the Internet.

Defi has dominated conversations for the past two years owing to it being open to everybody who uses Ethereum. Defi is a shared term for financial products and services that are available to anyone with an internet. Last year, DeFi growth skyrocketed at 2000% since January, with its TVL (Total Volume Locked) Figure closing out at $13Bn. With the mainstream adoption of Cryptocurrency and the accessibility of Crypto-markets to everybody, there is a significant increase in the number of people utilizing the benefits of this Ethereum network.

The prospective crypto assets to be added by Grayscale are as follows: 1inch (1INCH), Bancor (BNT), Curve (CRV), Internet Computer (ICP), Kava (KAVA), Kyber Network (KNC), Loopring (LRC), Polygon (MATIC), Ren (REN), Universal Market Access (UMA), and 0x (ZRX). The indigenous tokens of super-fast scalable blockchain networks Solana and Near were also added to the list.

Disclosed on the 18th of June, the firm emphasized the fact that all the prospective assets might not turn out to be Grayscale’s Signature Investment product. “It requires significant review and consideration to create an investment product, similar to the ones we already offer”, the update added.

Grayscale has long been at the forefront of introducing investors to inventive financial openings. In February this year, they revealed their original list of 23 prospective crypto-assets. The original list included names like AAVE, Stacks, and Yearn Finance, the decentralized money market running on Blockchain Technology.

Grayscale’s CEO Michael Sonnenshein explains:

“We’re eager to expand our product offerings to better serve our investors. The digital currency universe is constantly evolving and we seek to identify bold, interesting, and innovative opportunities that satisfy our investors.”

Since the firm believes in promoting avante-garde for the digital Financial sector by connecting the legacy financial sector with the rising digital currency-driven system, it finds itself responsible to create diversity in the investing space.

In March this year, Grayscale initiated five brand-new trusts, inaugurating products for Chainlink, Decentraland, Filecoin, Livepeer, and Basic Attention Token. Of Grayscale’s $34.4 Bn in Assets Under Management (AUM), these five trusts contribute around 0.1%.

Altcoin News, Cryptocurrency News, News
Related Articles