Grayscale expands asset considerations with 36 new cryptocurrencies including Dogecoin

Leading crypto assets manager Grayscale, has updated its list of assets under consideration for an investment product to include 36 cryptocurrencies, cutting across multiple categories from meme coins to AI-related projects.

According to the announcement, the firm is considering the following assets for listing either as single investment product or as part of the multi-asset products: Kaspa (KAS), Aptos (APT), Arbitrum (ARB), Celestia (TIA), Celo (CELO), Core (CORE), Cosmos (ATOM), Internet Computer (ICP), Mantle (MNT), Metis (METIS), Neon (NEON), Optimism (OP), Polygon (POL), Sei (SEI), Starknet (STRK), Toncoin (TON), and TRON (TRX).

Other crypto tokens being considered include Aerodrome (AERO), Ethena (ENA), Injective Protocol (INJ), Jupiter (JUP), Mantra (OM), Ondo Finance (ONDO), Pendle (PENDLE), THORChain (RUNE), Dogecoin (DOGE), Immutable (IMX), Akash (AKT), Arweave (AR), Artificial Superintelligence Alliance (FET), Helium (HNT), Pyth (PYTH), UMA Project (UMA), VeChain (VET) and Worldcoin (WLD).

The new cryptocurrencies could join the 29 tokens already in Grayscale investment products, highlighting the company’s efforts to offer diverse crypto asset products to its investors. The firm periodically updates the list based on market conditions.

The presence of some of the tokens on this list has generated considerable excitement from investors, who consider it a bullish signal for those projects. However, Grayscale itself noted that not every asset under consideration will become an investment product, and it could also create crypto investment products from assets that are not under consideration.

Kaspa KAS rises over 4% after Grayscale inclusion

While some of the assets included in the list, such as DOGE, already enjoy relatively high popularity and adoption, some, such as KAS, are still relatively new, which has made their presence on the list to be a major boost for their value.

Thanks to that inclusion, KAS is up by more than 4% in the last 24 hours. Grayscale X’s post was dominated by comments from Kaspa investors or shillers, at least.

Even Kaspa’s official X account acknowledged the inclusion, noting that it represents a sign of progress given that the project has only been around for three years.

It said:

“It’s great to see a global leader in digital asset management, Grayscale, consider introducing investors to $KAS, one of the most innovative blockchain technologies of the decade!”

Interestingly, KAS is the only currency on that list, and it appears the inclusion is based on a meeting between the Grayscale team and Kaspa Eco Foundation, during which the project explained its plan to the firm.

Kaspa is a cryptocurrency that uses the proof of work (PoW) consensus while implementing the GHOSTDAG protocol, which allows blocks to coexist. It can support high block rates with plans to process 10 to even 100 blocks per second. KAS is trading at $0.138 after recent gains but fell 8% in the last seven days.

Grayscale gets busy with new products

Although Grayscale may not eventually list all these tokens under consideration, some will likely be listed given its recent activity. The firm has been very busy with new product listings in the last few months, launching trusts for cryptocurrencies such as DeFi protocol AAVE, layer-1 blockchain SUI, and Ripple XRP, among others.

The company currently provides exposure to around 29 crypto assets but has not hidden its plan to list more products in the coming months. It notes that investors’ appetite for exposure to regulated crypto investments has been growing.

Meanwhile, Bitcoin and Ethereum remain the prime assets for asset managers, given that they are the only ones with exchange-traded funds. However, part of the long-term goal for other crypto investment products is getting regulatory approval for public listing.