Cryptocurrency institutional investment management firm Grayscale revealed on February 26 that it is considering opening new funds related to digital assets. The company will diversify its proposals in light of the increasing demand from corporate investors.
Grayscale is now targeting other options with lower market capitalization than Bitcoin (BTC) or Ethereum cryptocurrency, for example. The expansion will even include the DeFi projects, which have been hugely popular over the past year.
Through a statement, the company stated that it is targeting the following crypto assets: Aave (AAVE), Basic Attention Token (BAT), Cardano (ADA), Chainlink (LINK), Compound (COMP), Cosmos (ATOM), Decentraland (MANA) and EOS. (EOS), Filecoin (FIL), Flow (FLOW), and Livepeer (LPT).
The company will also open funds for investors to inject capital into MakerDao (MKR), Monero (XMR), Numeraire (NMR), Polkadot (DOT), Reserve Rights (RSR), Stacks (STX), Sushiswap (SUSHI), Synthetix (SNX), and Tezos (XTZ), The Graph (GRT), Uniswap (UNI), and Yearn Finance (YFI).
Regarding this announcement, Michael Sonnenshin, CEO of Grayscale, explained that although the valuation includes all the crypto assets mentioned, not all cryptocurrencies will have a specific investment fund. The company analyzes it to expand its offering and improve access to corporate funds.
“We are keen to expand our product offerings to better serve our investors. The world of cryptocurrencies is constantly evolving and we seek to identify bold, interesting and innovative opportunities that meet the demand of our investors.”
Grayscale drives money in bitcoin and cryptocurrencies
The company already offers its corporate clients as many as nine cryptocurrency funds. Grayscale’s trust funds currently include funds in Bitcoin, bitcoin cash, ether, ethereum classic, horizen, litecoin, lummens, Zcash, and a mixed fund of crypto assets known as the Digital Large Cap Fund.
Grayscale reported last Friday that it manages, in total, more than $ 36,000 million in cryptocurrency funds. The Grayscale Bitcoin Trust is the company’s most important fund with approximately 650,000 BTC, which represents more than $ 29,000 million.
Although Grayscale this week officially announced its interest in opening funds in other cryptocurrencies, CriptoNoticias reported in January that the company had previously requested authorization from authorities in Delaware, US, to create funds with Chainlink, Tezos, Decentraland, Basic Attention Token, Livepeer and Filecoin.
The Grayscale move is testament to the growing corporate interest in cryptocurrencies. The price increase of most digital assets, led by Bitcoin, is attracting the attention of wealthy investors, which could affect market prices.