In brief

  • Grayscale is investigating 13 new crypto assets, including Solana, Polygon and ICP.
  • The world's leading crypto asset manager is looking to add the assets to the 13 investment products it already offers.

Leading crypto asset manager Grayscale Investments is exploring 13 additional investment products. Announced on Thursday, the list includes three top 20 cryptocurrencies by market cap: Solana (SOL,) Polygon (formerly Matic Network) (MATIC) and Internet Computer (ICP) tokens.

The asset manager is also looking into 1inch (1INCH), Bancor (BNT), Curve (CRV), Kava (KAVA), Kyber Network (KNC), Loopring (LRC), NEAR (NEAR), Ren (REN), Universal Market Access (UMA), and 0x (ZRX).

Grayscale has over $33 billion in assets under management (AUM). The asset manager’s Bitcoin Trust product (GBTC) is the clear leader of the 13 investment products it currently offers, with $24.5 billion in AUM. However, shares in the trust shares have traded at a discount to the price of Bitcoin since February.

The 13 new assets under consideration are in addition to the 18 the company is still exploring, meaning that Grayscale is considering a total of 31 investment products.

Grayscale announced that was looking into 23 potential new assets in February, and launched five in March: Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL) and Livepeer (LPT.)

The addition of new investment products, “requires significant review and consideration and is subject to substantial internal controls, sufficiently secure custody arrangements, and regulatory considerations," said Grayscale in its latest announcement.

Investment trusts and funds like Grayscale provide companies exposure to cryptocurrencies without the need to take custody of the underlying asset. The products, which trade on public stock exchanges, track the price of a cryptocurrency—though some funds can trade at a premium or discount to their underlying asset.

Grayscale’s latest announcement comes just days after Morgan Stanley announced that it’s set to expand on the Bitcoin fund options it offers. In March, it became the first major US bank to launch a crypto investment fund—nipping at Grayscale’s heels.

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