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DeFi Sunday: Grayscale adds 13 cryptocurrencies to its list

Institutional asset manager Grayscale has been interested in the cryptocurrency sector for a long time. They have only recently expanded their list of interesting cryptocurrencies and a lot of them belongs to DeFi industry. This clearly shows growing interest in decentralized finances.

As many as 10 of the 13 cryptocurrencies added to the list of interest are from the DeFi industry

On June 18, the well-known company Grayscale announced the expansion of its list of cryptocurrencies, which they are interested in and will monitor them more closely. Interestingly, most of this package consists of DeFi projects and concretely the following - Polygon (MATIC), Bancor (BNT), Curve (CRV), Loopring (LRC), Ren (REN), 1inch (1INCH), Universal Market Access (UMA), 0x (ZRX), Kava (KAVA) and Kyber Network (KNC). They are complemented by native tokens of high-speed scalable blockchain networks Dfinity, Solana and Near.

Grayscale company logo on the screen smartphone screen, placed on dollar bills Grayscale company logo on the screen smartphone screen, placed on dollar bills, Source:

These are certainly not the only cryptocurrencies that Grayscale is examining in more detail and considering. After this last expansion, their number reached 31. The company currently offers products that monitor the performance of 13 different cryptocurrency assets.

Interest does not have to mean transforming into a real product

In March this year, Grayscale introduced 5 new trust products that monitor the performance of these cryptocurrencies -, Filecoin, Chainlink, Decentraland, Livepeer and the Basic Attention Token. Together, these trusts represent only 0.1% of the total $ 34.4 billion, they report.

However, they add to the new report that the inclusion of a project on the list of interests does not mean that they will certainly present a product for a given cryptocurrency in the future. A good example is the cryptocurrencies EOS, Tezos and Cardano, which were on this list in the past, but the real product was not created.

The DeFi industry is gaining momentum

DeFi is often at the center of discussions about cryptocurrencies and their future direction. Well-known chains, such as Ethereum and Binance Smart Chain (BSC), which bring DeFi solutions directly to potential investors, are pushing it forward.

Grayscale CEO Michael Sonnenshein also commented on the topic:

“We are 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.” Michael Sonnenshein, CEO Grayscale

The company apparently sees a huge future in cryptocurrencies and is also increasingly interested in the DeFi industry. This has undergone a really dynamic development in recent years and its value is massively growing. Grayscale strives to provide its investors with easy and safe entry into this market. For any project, of course, it is a great success if they get on the mentioned list of Grayscale and even greater if the interest is subsequently transformed into a real trust product of this company.

Slavomír is working in the field of cryptocurrencies since 2018. As a Co-Founder and Chief Marketing Officer of Dollero Technology, which is currently developing a crypto exchange ...


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