Crypto Giant Grayscale Exploring Support for Nearly Two Dozen Altcoins – Here’s a Look at the List
Digital asset manager Grayscale is considering adding 23 different altcoins to their holdings to offer as investment products.
In a new press release, the crypto behemoth says it wants to meet growing investor demand for digital assets by diversifying and expanding its product offerings.
The company says they’re exploring adding support for the following digital assets:
- Aave (AAVE)
- Basic Attention Token (BAT)
- Cardano (ADA)
- Chainlink (LINK)
- Compound (COMP)
- Cosmos (ATOM)
- Decentraland (MANA)
- Filecoin (FIL)
- Flow (Dapper Labs)
- Livepeer (LPT)
- MakerDAO (MKR)
- Monero (XMR)
- Numeraire (NMR)
- Polkadot (DOT)
- Reserve Rights (RSR)
- Stacks (STX)
- SushiSwap (SUSHI)
- Synthetix (SNX)
- Tezos (XTZ)
- The Graph (GRT)
- Uniswap (UNI)
- yearn.finance (YFI)
Seven of these coins were already revealed to be under Grayscale’s radar when the investment firm registered them for trusts in January including Aave, Cardano, Cosmos, EOS, Monero, Uniswap, and Polkadot.
The firm notes that adding a new digital asset to an investment product requires elaborate review and consideration. There’s no guarantee that each of these assets will end up being offered.
Says Grayscale CEO Michael Sonnenshein,
“We may not turn each of these assets into one of our landmark investment products… 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.”
The crypto giant, which accumulated over $700 million worth of Bitcoin (BTC) and Ethereum (ETH) in the month of February alone, currently offers eight crypto-backed investment products. In addition to BTC and ETH, Grayscale offers clients exposure to Litecoin (LTC), Bitcoin Cash (BCH), Ethereum Classic (ETC), Zcash (ZEC), Horizen (ZEN), and Stellar Lumens (XLM) through various trusts and funds.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/camilkuo