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.

Leave a Reply

Your email address will not be published.


Britain’s Chancellor Defers Tough Decisions to The Next Administration

The new British government is characterized by its severance to caution when it comes to its economic administration and its readiness to devote itself to performing just causes, regardless of the financial toll on the political sector.  As its precursor, Liz Truss, in September, decided to divide Britain’s economic organization, and the event exposed enormous […]

Genesis Halts Withdrawals Amid a Collapse of The Digital Currency Market

Genesis Global Capital has stopped processing withdrawals, confirming this week’s rumors. This is the most current lending program to file for bankruptcy. In 2022, Celsius Network, Voyager Digital, and other companies did so. At the moment, Derar Islim is Genesis’ acting CEO. Islim told Investors that the firm is looking at its options and seeking […]

Nayib Bukele Pledges To Buy 1 BTC Daily for El Salvador

The President of Els Salvador has pledged to start buying at least 1 BTC daily. This news emerged months after El Salvador is said to have completed its final BTC acquisition, 80 BTC at quite a cost of $19k each, in July this year. Previous Buy History of El Salvador  As per information from Buy BTC […]

Indonesia’s Central Bank Raises Rates By 50 Bps

In light of a robust economy and “high” inflation expectations, the Bank of Indonesia said on Thursday that it would act more firmly. As a result, the bank has increased the benchmark interest rate for the third consecutive month. A Global Economic Slowdown Bank of Indonesia was expected to increase the 7-day reverse repo rate […]

G20 Countries Commit to Uniting Their Efforts Towards a Robust Global Economic Recovery

Several countries in the G20 organization, the U.S, India, and the EU, have promised to create a robust global economic recovery by providing more employment and encouraging development. The proclamation made by the G20 Bali governors comes after the summit, which discussed solutions to the dilapidating economy, attended by some of the top global rulers. […]