DeFi focused: Grayscale exploring 13 more crypto assets for its trusts

Institutional asset manager Grayscale has announced 13 more crypto assets are currently under consideration for its suite of crypto investment trust products.

Revealed on June 18, the prospective assets mainly represent the decentralized finance (DeFi) sector, including 1inch, Bancor, Curve, Kava, Kyber Network, Loopring, Polygon, Ren, Universal Market Access, and 0x.

The native tokens of high-speed scalable blockchain networks Solana, Near, and Dfinity have also been added to Grayscale’s list of considered cryptocurrencies.

We’re always exploring new assets that can help us grow our family of investment products. Here are 13 additional we'll explore: $1INCH $BNT $CRV $ICP $KAVA $KNC $LRC $NEAR $MATIC $REN $SOL $UMA $ZRX. Follow along to get updates as we expand this list! https://t.co/5BU92rVZOM

The new additions bring the total number of assets being explored by Grayscale to 31. Grayscale currently offers products tracking the performance of 13 different assets. 

Grayscale emphasizes that “not every asset under consideration will be turned into one of [its] investment products,” and that certainly appears to have been the case for previously announced assets under consideration such as Cardano, Eos, and Tezos.

Grayscale did introduce five new trusts on March 17, launching products for Basic Attention Token, Chainlink, Decentraland, Filecoin, and Livepeer. These five trusts currently represent just 0.1% of Grayscale’s $34.4 billion in assets under management (AUM).

According to CoinShares, Grayscale’s trusts represent 75% of a total of $44.3 billion worth of assets managed in institutional crypto investment products.

06/17/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.Total AUM: $34.4 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $ZEC $BAT $LINK $MANA $FIL $LPT pic.twitter.com/PtYdWkfxmM

The Grayscale Bitcoin Trust represents 73% of Grayscale’s total AUM (and more than 56% of the combined assets managed in crypto investment products broadly.)

Related: Bitcoin sell pressure may hit zero in July thanks to Grayscale’s giant 16K BTC unlocking

The firm’s Ethereum Trust has also seen growth this year, representing nearly 22% of managed capital. All other trusts managed by Grayscale represent roughly 5% of the company’s AUM combined.

More than $2.3 billion has been invested in Grayscale’s trusts since the start of 2021.