Grayscale Considers DOGE and Worldcoin for New Crypto Investment Products

Grayscale, a leading crypto asset manager, has revealed a list of 35 cryptocurrencies under consideration for future investment products, which includes Dogecoin and Worldcoin. In a blog post dated October 10, Grayscale categorized these potential assets into five key groups: Currencies, Smart Contract Platforms, Financials, Culture, and Utilities.

Among the newly considered assets, a significant number are tokens from smart contract platforms. Notable mentions include alternative layer-1 blockchains like Aptos (APT) and Sei (SEI), as well as the data availability network Celestia (TIA) and Ethereum scaling solution Mantle (MNT).

Grayscale also highlighted several other networks, such as Arbitrum (ARB), Cosmos (ATOM), Polygon (MATIC), Toncoin (TON), and Tron (TRX), as potential candidates for their investment offerings. Additionally, three projects based on the Solana blockchain, including the decentralized exchange Jupiter (JUP), blockchain oracle Pyth (PYTH), and decentralized infrastructure network Helium (HNT), were included in the mix.

Popular memecoin Dogecoin (DOGE) and crypto gaming network Immutable (IMX) are considered under the "Consumer and Culture" category, where they could join Grayscale’s existing products like Basic Attention Token (BAT) and Decentraland (MANA).

Currently, Grayscale offers 30 investment products, which include 25 single and diversified investment trusts for specific cryptocurrencies, four exchange-traded funds (ETFs), and one dynamic income fund. This new list of potential assets marks a significant expansion for Grayscale, which recently launched an Aave investment fund on October 3, an XRP Trust on September 12, and an Avalanche fund on August 22.

Grayscale Investments is recognized as one of the largest institutional holders of Bitcoin, with 222,300 BTC valued at approximately $12.8 billion in its Grayscale Bitcoin Trust ETF (GBTC). Following the conversion of GBTC to an ETF in January, Grayscale has seen substantial net outflows, with investors selling off around $20 billion worth of GBTC shares since the change. Despite launching two spot Ether ETFs in July, the firm has experienced multi-billion dollar outflows from these new products.