Institutional asset manager Grayscale Investments has plans to expand its crypto asset trusts with more decentralized finance-based tokens according to its recent filings.
Grayscale is the world’s largest crypto asset trust for institutional investors. The firm is now planning to expand its offerings beyond Bitcoin, Ethereum, and a handful of other cryptocurrencies, by adding on DeFi token trusts.
The firm has filed to register five more digital asset trusts — two of them related to DeFi. The Delaware corporate registry, Grayscale’s statutory trustee for the state, received the filings on Jan. 27.
It does not necessarily mean they will be launched but shows that the investment giant has been eyeing the DeFi sector for future gains.
DeFi Token Trusts Coming
Among the five trusts are Aave, Polkadot, and Cosmos. Aave is the world’s second-largest DeFi lending platform in terms of total value locked according to DeFi Pulse, which currently reports it as $3.9 billion.
Polkadot is an Ethereum-rivaling high-throughput blockchain network that works with sidechains or ‘parachains’ in its own terminology. Cosmos is a decentralized ecosystem of independent blockchains designed to create the next generation of the internet.
Its current trusts are dominated by Bitcoin which represents about 80% of the total with $20.4 billion. The Ethereum trust has around 15% with $3.8 billion and the rest is distributed between a number of smaller crypto trusts including Litecoin, Bitcoin Cash, Stellar Lumens, Ethereum Classic, and Zcash.
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