Gaining exposure to cryptocurrencies can be achieved in numerous ways. The most straightforward option is buying the assets directly, although not everyone deems that viable. Seeking exposure through companies such as Grayscale can prove more appealing, as it removes many headaches.
Grayscale Wants To Expand Again
People familiar with the Grayscale product line will know there are many options to choose from. What initially started out as a solution to provide exposure to top crypto assets has quickly evolved into a fast network of different crypto-related Trust products. Venturing into alternative assets has proven worthwhile for the company, although some options will prove more beneficial than others.
For those willing to take risks, exposure to Basic Attention Token, Chainlink Horizon, or Stellar Lumens can appeal. All of these assets fluctuate in value every day, with many opportunities for profit and losses along the way. As a result, timing market entries remains crucial, even when using solutions like Grayscale to diversify one’s portfolio. These markets remain unpredictable first and foremost.
To remain competitive, Grayscale now aims to increase its market position by venturing into more alternative markets. The company made a remarkable decision, as its product line was recently expanded by introducing some somewhat questionable assets. The further down the company’s rabbit hole, the more obscure some of these additions will turn out to be.
The new list of potential additions is the likes of Bancor Network Token, Kava, Loopring, Polygon, and Solana. Those all make sense, as they are established crypto assets with a clear use case. For Universal Market Access and Internet Computer, on the other hand, the future remains somewhat uncertain. Given their popularity, the addition makes some sense, although it remains unclear if that will remain the case for much longer.
Making Tough Choices
As is often the case in this industry, there are no guarantees. Grayscale may not add any of these assets to its product line, depending on further research. Even if that is not the case, not all 13 assets will become products under the company’s umbrella either. Thus, launching new investment products is a double-edged sword, mainly where crypto assets are concerned.
As things stand, Grayscale has over $34 billion in assets under management today. A substantial amount, although it remains unclear if that number will keep going up. All crypto markets perform terribly in recent weeks, with no immediate market recovery in sight just yet. An interesting week lies ahead, yet the outcome remains uncertain.
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