Grayscale adds AAVE, COSMOS, and DOT to its list of filed trust projects, having filed for 6 other offerings including LINK and XTZ earlier this week. GrayScale’s rapid-fire succession of filings comes days after announcing an impressive $3.3 billion worth of new investment inflows in Q4 2020.
Early this month, CEO Michael Sonnenshein made a virtual appearance at the Crypto Finance Conference (CFC) 2021 in St. Moritz to discuss the future cryptos. Taking a closer look at the projects filed for, DeFi is the future, with AAVE, LINK, UNI all included in the roster. Additionally, sprinkled in between the DeFi projects is the NFT, Decentraland (MANA).
However, before DeFi and NFT enthusiasts dash over to Grayscale, CEO Michael Sonnenshein clarified “Grayscale is always looking for opportunities to offer products that meet investor demands…[however] a filing does not mean we will bring a product to market.” These statements suggest that it may be a while before DeFi and NFT hopefuls see any of these projects turned into GrayScale projects.
Nevertheless, the consideration to include ambitious and exciting DeFi projects into Grayscale’s offering demonstrates the validity and potential these projects have to offer. As of this month, an enormous $26.4billion are locked into DeFi, a tale-telling sign that much more potential is to be unlocked.
Just this week alone, AAVE, LINK, UNI all broke their all-time highs and DOT has catapulted itself into the upper echelons of projects by market capitalization and broken its all-time-high earlier this month.
At present, the company’s offerings include 8 singular crypto trusts and one diversified trust. Up until three weeks ago, XRP was included in the diversified trust offering but has since been dropped amidst ongoing legal disputes. At the time of writing Grayscale manages more than $24 billion worth of assets across its products