Grayscale Investments, the world's largest cryptocurrency asset manager with $30.6 billion in net assets under management, announced the update of its 'Assets Under Consideration' list for 2022. The list has grown to 43 digital assets after the addition of 25 new cryptocurrencies. Additionally, Amp (AMP) has been added to the Grayscale product family.
New Additions to the Consideration List
The 25 newly added assets are: Algorand (ALGO), Arweave (AR), Axie Infinity (AXS), Bancor (BNT), Bittorrent (BTT), Bora (BORA), Convex (CVX), Cosmos (ATOM), Decred (DCR), Elrond (EGLD), Enjin (ENJ), Fantom (FTM), Gala (GALA), Gelato (GEL), Helium (HNT), Holo (HOT), Iota (IOTA), Oasis Network (ROSE), Secret (SCRT), Spell (SPELL), Stacks (STX), The Sandbox (SAND), Universal Market Access (UMA), Vechain (VET), and Yield Guild Games (YGG).
These assets span multiple sectors including Layer-1 blockchains (Algorand, Cosmos, Elrond, Fantom, Iota), metaverse and gaming (Axie Infinity, The Sandbox, Yield Guild Games, Gala), DeFi (Bancor, Convex, UMA), data storage (Arweave), privacy (Secret), and NFT infrastructure (Enjin). This diversification signals Grayscale's intent to cover the breadth of the crypto ecosystem.
Grayscale's Investment Product Creation Process
Grayscale emphasized that the process of creating an investment product similar to its existing offerings is “a complex, multifaceted process.” The firm noted that it “requires significant review and consideration and is subject to internal controls, custody arrangements, and regulatory considerations, among other things.”
Inclusion on the 'Assets Under Consideration' list does not guarantee that a corresponding investment product will launch. Grayscale has previously added assets from the list to its product family, such as creating the Grayscale Chainlink Trust and Grayscale Polkadot Trust. The update reflects the firm's ongoing exploration of new digital assets to meet evolving investor demand.
Market Implications
As a key gateway for institutional capital into crypto, Grayscale's list updates are often viewed as a positive signal for the included assets. Although the firm warns of complexity and regulatory hurdles, the increased visibility can boost institutional interest. With over 43 candidates now under review, Grayscale is positioning itself to offer a broader suite of regulated investment products in the future.