Grayscale Considering Fantom, Algorand for Its Investment Products
Layer 1 chains Fantom, Algorand, and Oasis Network, are among the new additions to Grayscale’s list.
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Grayscale Investments has updated its list of digital assets under consideration for this year. 25 more tokens, including Layer 1 chains, Metaverse applications, and blockchain games, have been added to the list.
Grayscale Expands Assets Under Consideration
Grayscale is broadening its investment horizons.
The crypto asset management company updated its list of assets under consideration Monday, adding 25 more tokens. The new additions bring the total number of assets on Grayscale’s radar to 43. In the same announcement, Grayscale announced it had also added Amp, a digital collateral token, to its product family.
Among the new entrants are several alternative Layer 1 blockchain tokens such as Algorand, Elrond, Fantom, Helium, Holochain, Oasis Network, and Secret Network. These tokens could eventually build on the list of Layer 1 chains offerings already within Grayscale’s product family, such as Ethereum, Solana, and Cardano.
Another prominent theme in the new round of assets is Metaverse and blockchain gaming applications. Seven of the 25 tokens fall under this category and include Arweave, Axie Infinity, BORA, Enjin, Gala Games, The Sandbox, and Yield Guild Games. Currently, Decentraland’s MANA token is the only Metaverse application Grayscale offers to its investors.
The remaining tokens Grayscale is considering cover a wide range of DeFi, Web3, and Internet of Things use cases. They include Bancor, BitTorrent, Convex, Decred, Gelato, IOTA, Spell, Stacks, Universal Market Access, and VeChain.
Grayscale Investments is an asset management company that helps institutions gain exposure to cryptocurrencies. The company is in the process of converting its most popular offering, the Grayscale Bitcoin Trust, into an exchange-traded fund. It is currently awaiting approval from the U.S. Securities and Exchange Commission.
Disclosure: At the time of writing this feature, the author owned ETH, SOL, FTM and several other cryptocurrencies.
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