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Grayscale currently has 24 assets in its Grayscale’s Product Family while listing 43 digital coins and tokens under its consideration list.
Crypto investment and asset management firm Grayscale Investments has announced a list of coins to their consideration list which includes AVAX, LUNA, MATIC, and others. The 25 new digital assets also include tokens for a couple of high-profile DeFi protocols which include Algorand (ALGO) and Convex (CVX) and metaverse startups including the Sandbox (SAND), Axie Infinity (AXS), and Yield Guild Games (YGG).
“As a firm that has been on the vanguard of connecting the legacy financial system with the new digital economy, we view it as our responsibility to introduce investors to the diversity in this space. That’s why we’re pleased to provide a periodic update of our lists of assets under exploration,” Grayscale wrote on their website after the announcement.
According to Grayscale, “Assets Under Consideration” encompasses digital assets that are currently not owned by Grayscale nor presented as an investment product but are those that have been identified by their team as possible interesting options in terms of further exploration which could be included in a future investment product.
These digital assets could even be included in the Grayscale Product family without first being listed on this table. The firm added that the latest list of digital coins and tokens were compiled as a result of their exploration in the digital management asset sector.
Grayscale currently has 24 assets in its Grayscale’s Product Family while listing 43 digital coins and tokens under its consideration list. The firm also revealed that some names on the list might not receive standalone funds for providing exposure as some of those assets may even end up in products similar to Grayscale’s Digital Large Cap Fund.
The firm, according to its statement released after the announcement, seemed to have highlighted the very complex and fundamental nature of the process of adding a financial asset to the family of an investment company’s products.
“The process of creating an investment product similar to the ones we already offer is a complex, multifaceted process. It requires significant review and consideration and is subject to our internal controls, custody arrangements, and regulatory considerations, among other things,” the firm wrote in the statement. The firm updates this list periodically as well as the assets it already holds.
Grayscale is a household name in the digital currency space as it is the world’s largest digital currency asset manager. The firm as of October 29, 2021, had $55 billion worth of assets under its management. Its products cover over 70% of the digital currency market and have over 36% of investors investing across multiple products.
The firm recently made waves in the news by selling its Bitcoin shares for a discount of almost 30% after its Bitcoin Fund premium hit an all-time high following the massive sell-off in the Bitcoin and cryptocurrency market.