These 25 altcoins are considered an investment product by Grayscale

Grayscale, the world’s largest crypto asset manager, has added 25 coins to the list of assets it plans to add to its investment products, including VeChain (VET), Iota (MIOTA), Monero (XMR), and Axie Infinity (AXS).

Other assets under consideration are: Algorand (ALGO), Arweave (AR), Bancor (BNT), BitTorrent (BTT), BORA (BORA), Convex (CVX), Cosmos (ATOM), Decred (DCR), Elrond (EGLD ) , Enjin (ENJ), Fantom (FTM), Gala (GALA), Gelato (GEL), Helium (HNT), Holo (HOT), Oasis Network (ROSE), Secret (SCRT), Spell (SPELL), Stacks ( STX ), The Sandbox (SAND), Universal Market Access (UMA) and Yield Guild Games (YGG).

In addition to the 25 coins under consideration, Grayscale said in the press release To update 24 on their website for adding Amp (AMP) to their Grayscale DeFi Fund.

Grayscale Investments currently has $55 billion in assets under management (AUM) across its various crypto offerings. Of this, the Grayscale Bitcoin Trust and the Grayscale Ethereum Trust account for $31.2 billion.

The Grayscale DeFi Fund currently has $7 million under management and is down 35.8% since its inception in July 2021.

Many of the coins under consideration are currently in the top 100 by market cap.

VeChain (VET) was originally launched on the Ethereum network in 2015 as an ERC-20 token, but has since become a native token on the VeChainThor blockchain network used by real-world industry for tracking and supply chain management.

Born in late 2015, IOTA is the native token for the Iota distributed ledger, helping devices connect to the Internet of Things (IoT).

Axie Infinity (AXS) is the governance token for the play-to-earn (P2E) game Axie Infinity, which enjoyed great success in 2021 and is currently trading at $51.90 with a market cap of $3.6 billion .

AXS .Price chart | Source: Trade View

While these three tokens are already well known and have a large following, the same isn’t necessarily true of the tokens Coinbase just added.

Coinbase is the third largest cryptocurrency exchange in the world with nearly $4 billion in daily trading volume, and it has it listing Four tokens are relatively small and unknown today (January 26). The four coins include Cryptex (CTX), DIA (DIA), Maple (MPL) and Unifi Procol DAO (UNFI). None of these tokens make the top 500 by market cap right now, but by listing them, Coinbase is staying true to its word of “generating even more coins and tokens through 2022,” according to a report. tweets January 25th.

When asked how he would benefit from a listing on Coinbase, Cryptex co-founder and CEO Joe Stico said:

“It allows us to remain agile and community-driven, and we can now reach all corners of the world.”

Cryptex is a decentralized autonomous organization (DAO) that manages the TCAP index, which tracks the total cryptocurrency market capitalization. CTX is up 10.7% in the last 24 hours and is trading at $10.84.

CTX price chart | Source: Trade View

Stico also looks at what it takes for a small project to scale to the point where Grayscale considers it as an investment product.

“I think that in the end the starting point is no longer so important, but start small and do your best to solve the extremely difficult problems in order to create a good financial future for everyone involved.”

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