Grayscale Considers Adding 35 New Crypto Assets Including Dogecoin And Worldcoin

According to Cointelegraph, crypto asset manager Grayscale has announced the addition of 35 altcoins, including Dogecoin, Worldcoin, Pyth, and Rune, to its list of assets under consideration for future investment products. This update was shared in an Oct. 10 blog post, where Grayscale categorized the prospective tokens into five primary groups: currencies, smart contract platforms, financials, culture, and utilities. The majority of the newly considered assets are tokens for smart contract platforms. Grayscale has identified a mix of networks, including alternative layer 1 blockchains such as Aptos (APT) and Sei (SEI), data availability network Celestia (TIA), and Ethereum scaling solution Mantle (MNT). Additionally, tokens from networks like Arbitrum (ARB), Cosmos (ATOM), Polygon (MATIC), Toncoin (TON), and Tron (TRX) are also being considered for potential investment products. In total, Grayscale has listed 16 smart contract platforms as potential fund prospects. Grayscale is also evaluating three Solana-based projects, including tokens for the decentralized exchange Jupiter (JUP), blockchain oracle Pyth (PYTH), and decentralized infrastructure network Helium (HNT). Under the “consumer and culture” vertical, popular memecoin Dogecoin (DOGE) and crypto gaming network Immutable (IMX) are being considered as potential additions, alongside existing products like Basic Attention Token (BAT) and Decentraland (MANA). Currently, Grayscale offers 30 different investment products, which include 25 single and diversified investment trusts for specific cryptocurrencies, four exchange-traded funds (ETFs), and one dynamic income fund. This new list of prospective assets follows a recent expansion wave for Grayscale, which saw the launch of a new Aave investment fund on Oct. 3, an XRP Trust on Sept. 12, and an Avalanche fund on Aug. 22. Grayscale Investments is one of the largest institutional holders of Bitcoin (BTC), with 222,300 BTC worth $12.8 billion in its spot Bitcoin ETF, the Grayscale Bitcoin Trust ETF (GBTC). Since converting GBTC to an ETF in January, Grayscale has become one of the largest institutional sellers of Bitcoin, with investors selling a net $20 billion worth of GBTC shares since the fund’s conversion. Following the launch of two spot Ether ETFs in July, Grayscale has also experienced significant outflows from these new products.