Grayscale Considers Dogecoin, Sam Altman-backed Worldcoin For Future Crypto Investment Products

Grayscale Considers 35 Altcoins for Potential Investment Products

Grayscale is exploring the inclusion of 35 altcoins, including Dogecoin (DOGE) and Worldcoin (WLD), as potential assets for future investment products.

The firm's interest in Dogecoin and Worldcoin highlights the increasing institutional focus on digital assets. Dogecoin, the largest meme coin by market cap, has received significant support from Elon Musk, while Worldcoin is backed by OpenAI's Sam Altman.

In a recent blog post, Grayscale categorized the list of potential future candidates into five primary categories: currencies, smart contract platforms, culture, financials, and utilities.

Smart Contract Platforms and Layer-2 Tokens Dominate Grayscale's List

A significant portion of the tokens under consideration are associated with smart contract platforms, including Aptos (APT), Arbitrum (ARB), Celestia (TIA), and Internet Computer (ICP).

Layer-2 projects Polygon (MATIC) and Optimism (OP) were also listed in this category. This aligns with Grayscale's existing investments in layer-1 giants like Cardano (ADA), Ethereum (ETH), Solana (SOL), and Polkadot (DOT).

Notable mentions include Toncoin (TON), TRON (TRX), and Sei (SEI). Core (CORE), ranked 75th in terms of valuation, also made it to Grayscale's list.

Grayscale's Recent Crypto Asset Launches

Grayscale's consideration of these crypto assets follows the launch of several crypto investment products in recent weeks. The firm introduced an Aave investment product on October 3. A month prior, it announced an XRP trust, followed by the launch of an Avalanche fund on August 22.

The asset manager also converted its GBTC fund to a spot Bitcoin ETF at the start of the year but has subsequently become one of the largest institutional sellers of the leading cryptocurrency. This is attributed to investors opting for similar funds with lower fees.