Grayscale has added 25 coins to the list of assets it is considering adding to its investment products, including VeChain (VET), Iota, Monero (XMR), and Axie Infinity (AXS).
It has been reported that Other assets under consideration are Algorand (ALGO), Arweave (AR), Bancor (BNT), BitTorrent (BTT), Bora, Convex (CVX), Cosmos (ATOM), Decred (DCR), Elrond (EGLD), Enjin (ENJ), Fantom (FTM), Gala, Gelato (GEL), Helium (HNT), Holo (HOT), Oasis Network (ROSE), Secret (SCRT), Spell Token (SPELL), Stacks (STX), The Sandbox (SAND), Universal Market Access (UMA), and Yield Guild Games (YGG).
However, in addition to the 25 coins added to its assets under consideration, Grayscale also said in a Monday update on its website that it had added Amp to its Grayscale DeFi Fund.
Grayscale stated:
“We’ve updated our list of digital assets under consideration for 2022. See what's new, and learn more about what this means.”
The report said that Grayscale’s current lineup of 15 crypto investment products has $55 billion in assets under management (AUM). The Grayscale Bitcoin Trust and Grayscale Ethereum Trust account for $31.2 billion of the AUM. The Grayscale DeFi Fund currently has $7 million in AUM and is down 35.8% since its inception in July 2021, according to data from Grayscale’s website.
Likewise, many of the coins now being considered are among the top 100 coins by market capitalization, according to CoinGecko. VET was originally launched as an ERC-20 token on the Ethereum network in 2015 but has since become the native token on the VeChainThor blockchain network.
The token and the network are used by real-world industries for supply chain tracking and management. Iota is the native token for the Iota distributed ledger, which helps devices connect to the Internet of Things. The project was founded in late 2015. AXS is the governance token for the play-to-earn Axie Infinity game that has seen huge success in the past year. It traded for $0.97 with a $48-million market cap on January 26, 2021, and is now trading at $51.90 with a market cap of $3.6 billion.
Moreover, while these three tokens are well known and have amassed large followings, the same is not necessarily true for the tokens Coinbase has just added. Coinbase is the third-largest crypto exchange in the world with nearly $4 billion in daily trading volume, and it listed four relatively unknown tokens on Wednesday.
Thus, the four coins are Cryptex (CTX), DIA, Maple (MPL), and Unifi Procol DAO (UNFI).
Source: Cointelegraph