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Cryptocurrency News Articles
Grayscale Considers Adding Meme Coin Dogecoin (DOGE) and Sam Altman-Backed Worldcoin (WLD) to Its Investment Products List
Oct 15, 2024 at 05:42 pm
Grayscale's interest in Dogecoin and Worldcoin underscores the growing institutional focus on digital assets.
Grayscale is eyeing 35 altcoins, including the leading meme coin Dogecoin (DOGE) and Sam Altman-backed Worldcoin (WLD), as assets that could become future investment products.
Grayscale's interest in Dogecoin and Worldcoin highlights the increasing institutional attention towards digital assets. Dogecoin is the largest meme coin by market cap and has been heavily promoted by Elon Musk, while Worldcoin has support from OpenAI's Sam Altman.
In a blog post on Oct. 10, the crypto asset management firm categorized the potential candidates for future investment products into 5 primary groups: currencies, smart contract platforms, culture, financials and utilities.
Smart Contract And Layer-2 Tokens Dominate Grayscale’s List
Many of the tokens considered for future investment products were those linked to smart contract platforms. Some of the altcoins in this category include Aptos (APT), Arbitrum (ARB), Celestia (TIA) and Internet Computer (ICP).
Layer-2 projects Polygon (MATIC) and Optimism (OP) were also listed in this category, adding to Grayscale's existing investments in layer-1 giants like Cardano (ADA), Ethereum (ETH), Solana (SOL) and Polkadot (DOT). Other notable projects being considered are Toncoin (TON), TRON (TRX), and Sei (SEI).
Assets Under Consideration Update: Learn about the diverse digital assets we’re considering for future investment products and explore those already part of our offerings. Are we missing anything? 🤔
Read the full list and article: https://t.co/Tr5lU1CSSQ pic.twitter.com/dSvIdlcf9c
— Grayscale (@Grayscale) October 11, 2024
The smaller-cap Core (CORE), ranked at number 75 in terms of valuation, also made it onto Grayscale's list of potential assets for future investment products.
Solana tokens are also being considered, with decentralized exchange (DEX) token Jupiter (JUP), blockchain oracle provider Pyth (PYTH), and decentralized infrastructure network Helium (HNT) mentioned in the asset manager's list.
Grayscale Launches XRP, Avalanche And Aave Funds
Grayscale's list of crypto assets under consideration comes as the firm has launched several crypto investment products in recent weeks. On Oct. 3, the asset manager launched a new investment product for Aave. Less than a month prior, it announced an XRP trust, following the launch of its Avalanche fund on Aug. 22.
The asset manager also converted its GBTC fund to a spot Bitcoin ETF (exchange-traded fund) at the beginning of the year, but it has been one of the largest institutional sellers of the leading cryptocurrency.
This is due to investors shifting their capital to similar funds with lower fees. In total, GBTC has lost $20.104 billion as of Oct. 14, according to Farside Investors data.
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- Render (RNDR) Skyrockets as Whale Activity and Key On-Chain Metrics Signal Bullish Momentum
- Oct 15, 2024 at 08:20 pm
- Render [RENDER] is drawing lots of attention as its large transactions skyrocketed massively in the past 24 hours. Given the altcoin's recent price action and support from several key on-chain metrics, the big question is whether the token is ready to break up the triangle consolidation and further advance the bullish rally.
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- MrBeast Accused of Making $10M+ by Backing Low-Cap IDO Crypto Tokens Promoted by Influencers
- Oct 15, 2024 at 08:20 pm
- Crypto researcher SomaXBT delved into the wallet's activities, revealing that the wallet, identified by leading blockchain analytics firm Arkham Intelligence as linked to MrBeast, allegedly "made $10M+ by backing low-cap IDO crypto tokens promoted by influencers like Lark Davis, CryptoBanter, KSI, and others."