Grayscale Explores Investment Products for Polygon ($MATIC), Solana ($SOL), Other Cryptos

Cryptocurrency asset manager Grayscale Investment has revealed it is exploring 13 new investment products, including ones tied to the popular Polygon (MATIC) cryptocurrency and to Solana (SOL).

The other 11 products the firm is considering cover various popular cryptocurrencies including 1inch (1INCH), Bancor (BNT), Curve (CRV), Internet Computer (ICP), Kava (KAVA), Loopring (LRC), Ren (REN), and 0x (ZRX), among others.

The inclusion of Solana and Polygon’s MATIC is notable, however, as CryptoCompare data shows both cryptocurrencies saw their prices explode over 6,000% in the last 12 months, greatly outperforming the flagship cryptocurrency Bitcoin.

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Grayscale’s new list comes a few months after the firm revealed it was considering launching 23 new investment products allowing investors to gain exposure to various cryptoassets including Uniswap (UNI), Polkadot (DOT), and Chainlink (LINK). Out of those Grayscale launched five investment products, with one of them being tied to LINK.

The firm is now seemingly exploring a total of 31 investment products but it will likely not launched all of them. Instead, the asset manager will see which cryptocurrencies justifying creating an investment product, which is a complex process as it requires significant review and consideration before being subject to “substantial internal controls, sufficiently secure custody arrangements, and regulatory considerations.”

Grayscale is notably the world’s largest cryptocurrency asset manager with over $34 billion in assets under management. Its product giving investors exposure to bitcoin, the Grayscale Bitcoin Trust (GBTC), has over $25 billion of assets under management.

Over the last few months, some of its funds have been trading at a discount, meaning their price is below their net asset value. This has been happening as more and more funds have been becoming available to investors who do not want to manage private keys themselves.

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Source: https://www.cryptoglobe.com/latest/2021/06/grayscale-explores-investment-products-for-polygon-matic-solana-sol-other-cryptos/