Grayscale is Researching Polygon and Solana to be Added to their Crypto Investment Vehicle

Grayscale is a digital asset investment management enterprise based in the United States. The company has set up 14 unique crypto trusts and issues shares pegged to these altcoins based on their market value. Only accredited users are eligible to invest in these funds and make profits. The Grayscale Bitcoin Trust is also the biggest known reserve of the beacon coin in the world.

After a ravishing success with its existing crypto trusts and stocks, the company has selected a tentative pool of tokens to be added to the list. According to the contents of a recently published blog post, the investment project has included products like Solana and polygon. The blog post was uploaded yesterday and had a total of 13 new crypto coins as assets under consideration. 

Experts Claim that Grayscale Management is Taking more Interest in the DeFi Tokens Market

After the current demise of Bitcoin and Ethereum, where both projects have fallen from their peak streak, more investors are moving towards the altcoin market. As a smart crypto investment engine, Grayscale is not impervious to the changes that are taking place in the sector. It can be deduced by examining the list of new tokens on the Grayscale radar that most of these are DeFi tokens.

DeFi tokens are blockchain projects that do not require the interference of any third-party project like banks or federal regulators. For DeFi tokens, the investors put their trust in computer code, digital ledgers, or smart contracts. Other than token, projects like NEAR, Internet Computer, Solana, and Polygon are also running on Ethereum. The remaining DeFi tokens are Bancor, Kava, Ren, 1inch, Curve, Kyber, Loopring, among others.

Grayscale Officials Claim that the Enterprise is Expanding its Cryptocurrency List to Maintain Transparency

At present, Grayscale allows investors to have exposure to 14 cryptocurrencies. As noted by Yahoo Finance, the AUM for the investment giant closed at $50 billion. However, most standalone digital assets on the Grayscale panel are major investment projects of its parent company, The Digital Currency Group. 

In a recent public briefing, the company’s representation has claimed that new digital assets are explored to increase diversity and ensure transparency. It was also informed that all the new crypto contenders would be offered as an investment product. The final decision would be made keeping into consideration things like internal controls, regulations, and custody arrangements.

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