Investment

Grayscale Investigates “New Investment Products” Based on DOT, LINK, ADA, AAVE, and Other Standards

For new investment products, the crypto asset management behemoth is looking into a slew of altcoins.

Grayscale is looking at 23 different tokens to see how they can be used to build new investment items.

Grayscale, a New York-based digital asset management company with billions of dollars in assets under management, recently revealed that it is looking into the possibility of introducing “new investment products” based on a variety of digital assets.

Grayscale is looking into a range of well-known DeFi tokens, including Aave (AAVE), MakerDAO (MKR), Sushiswap (SUSHI), Uniswap (UNI), and Yearn Finance (YFI), according to the announcement. In addition, Ethereum rivals Cardano (ADA), Tezos (XTZ), Cosmos (ATOM), and EOS are on the firm’s radar (EOS).

Grayscale also included Monero (XMR), a privacy-preserving cryptocurrency, in its list of possible coins for the latest investment offering. As previously reported by BTCManager, privacy-focused cryptocurrencies have traditionally annoyed financial regulators around the world.

Reserve Rights (RSR), Numeraire (NMR), and Livepeer are among the low-cap cryptocurrencies on the list, with market capitalizations of less than $500 million at the time of publishing (LPT).

Grayscale CEO Michael Sonnenshein commented on the growth, saying:

“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’ demand for differentiated exposure to this burgeoning asset class.”

Adding:

“We may not turn each of these assets into one of our landmark investment products,” continued Sonnenshein. “But as a firm that has been on the vanguard of connecting the legacy financial system with the new, digital currency-driven financial system, we view it as our responsibility to introduce investors to more diversity in this space.”

Institutions are loading up on cryptocurrencies.

The amount of institutional capital coming into the cryptocurrency industry is a big difference between the present bull run and the bull run at the end of 2017.

As previously mentioned, publicly traded companies such as MicroStrategy and Tesla have already announced major purchases of the largest cryptocurrency by market capitalization, which may signal the start of institutional-level FOMO for cryptocurrencies.

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