Grayscale steps into DeFi space

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TL;DR Breakdown

  • Grayscale investment looking to diversify its portfolio with four new trusts for Aave, Cosmos, Polkadot, and Monero.
  • The firm recorded tremendous progress in 2020 with over $20 billion in its assets under management.

Grayscale has now registered four new trusts for Aave, Cosmos, Polkadot, and Monero. This was made known through a recent filing made by the company in Delaware. This means that the institution is actively seeking to diversify its holdings.

Grayscale looks to diversify its portfolio 

Presently, 90% of the firm’s investment are entrusted into the Bitcoin Trust, with the availability of these new Trusts, Grayscale would be able to offer its institutional investors a diversified portfolio to choose from. The filing however does not confirm that the investment company would be opening a trust in the name of each of these crypto assets, what it only signifies is that the company has an interest in these new products and that it also has the wherewithal to support them.

With the recent filing, one can infer that the firm is looking to enjoy the benefits that could be found in other crypto assets and with the DeFi industry witnessing a stupendous growth in recent time, it appears the investment company also wants to take advantage of it. The performance of Aave, Cosmos and Polkadot in recent times could have lured it deeper to these DeFi assets.

The firm, through Delaware Trust Company, has filed for the registration of Chainlink, Tezos, Decentraland, Livepeer, and Basic Attention Token towards the end of last year. Grayscale also proceeded to file for the registration of  Cardano too.

The firm recorded success in 2020

Grayscale Investment is the leading Bitcoin investment fund in the world. The firm enjoyed tremendous success in 2020 recording over $20 billion in its assets under management by the end of the year.

Its recent efforts might be its attempt to solidify its hold as the go-to choice for institutional investors who are taking more interest in the crypto industry. 

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