Grayscale Considers Dogecoin In Top 35 Investment Products, Price Jump By 3.50%

Grayscale added 35 new altcoins, including Dogecoin, Worldcoin, and Pyth, to its list of assets under consideration for future investment products. The newly considered tokens fall into categories like smart contract platforms, financials, utilities, and culture, focusing on blockchain scalability.

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Meghna Chowdhury
Meghna Chowdhury
Meghna is a Journalism graduate with specialisation in Print Journalism. She is currently pursuing a Master's Degree in journalism and mass communication. With over 3.5 years of experience in the Web3 and cryptocurrency space, she is working as a Senior Crypto Journalist for UnoCrypto. She is dedicated to delivering quality journalism and informative insights in her field. Apart from business and finance articles, horror is her favourite genre.

Grayscale, a leading crypto asset manager, has added 35 new altcoins to its list of assets under consideration for future investment products. Among the newly considered tokens are popular coins like Dogecoin, Worldcoin, Pyth, and Rune.

The announcement, made in an Oct. 10 blog post, provides insight into the company’s growing interest in diversifying its offerings to meet investor demand.

Grayscale Adds Dogecoin & Worldcoin In Top 35 Investment Products

These potential tokens were divided into five major categories by Grayscale: currencies, smart contract platforms, financials, utilities, and culture. Interestingly, most of the new assets are classified as smart contract platforms. 

These include the Ethereum scaling solution Mantle, the data availability network Celestia, and alternative layer-1 blockchains like Aptos and Sei. This indicates that Grayscale is concentrating on scalability and blockchain infrastructure developments intending to strengthen the decentralized economy.

Tokens from other well-known networks including Arbitrum, Cosmos, Polygon, Toncoin, and Tron are also being considered by Grayscale. These initiatives are gaining popularity in the market and may soon find their way into Grayscale’s investment holdings.

Grayscale Adds Solana-Based Products to the List

The company is also investigating the addition of Solana-based initiatives, including as the decentralized infrastructure network Helium (HNT), blockchain oracle Pyth, and decentralized exchange Jupiter (JUP). 

This is a noteworthy development. These initiatives are included to demonstrate Grayscale’s interest in DeFi and the ecosystem’s developing potential inside Solana.

The use of grayscale is not limited to financial applications. Aspects in the “consumer and culture” vertical have also been investigated, taking into account the inclusion of the well-known memecoin Dogecoin and the cryptocurrency gaming network Immutable. 

These tokens would be added to the company’s current offerings, such as Basic Attention Token (BAT) and Decentraland (MANA), demonstrating its acknowledgement of the impact of consumer-driven and culturally significant crypto assets.

As of now, Grayscale offers 30 different investment products, which include 25 single and diversified investment trusts, four exchange-traded funds (ETFs), and a dynamic income fund. This latest batch of prospective tokens follows a period of rapid expansion for Grayscale, which launched new funds for Aave, XRP, and Avalanche in recent months. The firm is positioning itself as a key player in the institutional crypto market with its diverse product lineup.

The List Sends the Prices of Digital Assets Up

This news has had an immediate impact on the market. Jupiter (JUP) saw its value rise by 7% in the last 24 hours, trading at $0.8725 with a surge in market capitalization to $1.18 billion and an increase of 92.97% in trading volume. Similarly, Dogecoin experienced a 3.50% increase, trading at $0.1162, with its market cap climbing to $17.02 billion and a massive 41.69% jump in trading volume.

Grayscale’s expansion into these altcoins underscores the growing demand for diversified crypto investment products, and its continued influence on the market will be closely watched as more tokens gain consideration for future offerings.

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