One takeaway is clear from this new Grayscale Investments list; the future is multi-chain. Covered:  New Grayscale List Focus on Layer 1’s and Metaverse How Does Grayscale Decide? New Grayscale List This morning, crypto-asset firm Grayscale released a new list of assets “under consideration” for their portfolio. Famous for their Bitcoin Trust ($GBTC), which gives […] The post Grayscale Considering VeChain, Fantom and 23 Others For Investment Portfolio appeared first on CryptosRus.

Grayscale Considering VeChain, Fantom and 23 Others For Investment Portfolio

One takeaway is clear from this new Grayscale Investments list; the future is multi-chain.

Covered: 

  • New Grayscale List
  • Focus on Layer 1’s and Metaverse
  • How Does Grayscale Decide?

New Grayscale List

This morning, crypto-asset firm Grayscale released a new list of assets “under consideration” for their portfolio. Famous for their Bitcoin Trust ($GBTC), which gives institutions exposure to Bitcoin, being added to the Grayscale portfolio is a massive boon to any crypto asset.

Currently, there are only 25 cryptos offered in their investment portfolio, including newer additions like Chainlink, Decentraland, Solana, and even Cardano. In their newly released list, though, there are some good surprises. Grayscale is considering adding 25 more, with others already under consideration.

Focus on New Layer 1’s and Metaverse

Some of the more interesting on the list include VeChain, Algorand, Stacks, Elrond, Cosmos, Fantom, Axie Infinity, and Sandbox. Judging by the list, it is clear that Grayscale is focusing on Layer 1’s and metaverse plays. This should tell you where the big money is looking. VeChain and Fantom appear to be pumping off the news, up 8% and 12% respectively at press time. 

Notably, BitTorrent is even on the list, a protocol that runs on Tron and hosts the popular streaming site, DLive. In fact, DLive is the most successful decentralized streaming platform ever released. The most popular streamer in the world, Pewdiepie, even streams on DLive. However, despite decentralization, they have banned many streamers.

Other than BitTorrent, Convex, and UMA, there are no other DeFi projects on this list. Interestingly, there are no DEX tokens other than Bancor, either. This shows that institutional money is focused mostly on the Layer-1’s, which house all the DeFi. 

As noted above, 7 of the 25 newly considered are metaverse and gaming plays, including Arweave, Axie Infinity, BORA, Enjin, Gala Games, The Sandbox, and Yield Guild Games. All of these are projects to keep an eye on.

Recommended: Grayscale Flips World’s Largest Gold Fund; Has Bitcoin Become The Supreme Inflation Hedge?

How Does Grayscale Decide?

Grayscale says that deciding which crypto to invest in is a “complex, multifaceted process requiring significant review and consideration and is subject to our internal controls, custody arrangements, and regulatory considerations, among other things.”

The regulatory part is particularly interesting. If Grayscale lists crypto, that basically means the asset, team, and tokenomics are “above board.” Being invested in by Grayscale is really a “golden star” for any asset because of their strict selectivity.

It also usually results in a major bump in price. For example, when Grayscale listed Livepeer in March of 2021, Livepeer price quickly rallied to a new all-time high. The “Grayscale bump” is equivalent to the Coinbase bump but even more significant. Below is a chart after Livepeer was chosen. It catapulted more than 1,000% since it was “first revealed as a token of interest for Grayscale Investments.”

So if you are a lucky holder of one of these 25 crypto assets, you may be in for a huge pump when and if they add the token. 

Recommended: Grayscale Fund Adds Solana And Uniswap, Increases Cardano Stake

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