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Will Grayscale add IOTA to its portfolio?

 


Grayscale added 25 tokens to those it is considering for investment products, including VeChain and IOTA


Grayscale, the world's largest crypto asset manager, has added 25 new tokens to the list of assets the company plans to include in its investment products. These include many other VeChain, IOTA, Monero and Axie Infinity. The company announced this via Twitter . By “Assets Under Consideration” Grayscale understands these tokens that are not currently contained in an investment product. However, the asset manager became aware of these as part of his exploration of the sector. Therefore, the Grayscale team identified them as possible candidates for inclusion in a future investment product. 


Developing an investment product similar to the products we already offer is a complex, multi-faceted process. It requires extensive review and consideration and is subject to, among other things, our internal controls, custody arrangements and regulatory considerations


, writes Grayscale in a statement . Grayscale's current suite of 15 crypto investment products has $55 billion in assets under management. Grayscale Bitcoin Trust and Grayscale Ethereum Trust account for $31.2 billion of that alone. The Grayscale DeFi Fund currently accounts for $7 million. According to data from the company's website, it has fallen by 35.8 percent since its inception in July 2021 .


The majority of the 25 tokens labeled “Assets Under Consideration” are among the top 100 cryptocurrencies by market cap, according to CoinGecko. Iota (IOTA) is the native token for the iota distributed ledger. It helps devices connect to the Internet of Things (IoT). The project was founded at the end of 2015. Behind it is a Berlin start-up that already has ambitious plans for the Metaverse. That a force like Grayscale is considering IOTA for an investment product should only help popularity. 

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