As a veteran institution in the field of crypto asset management, Grayscale has been very active recently.
Whenever Grayscale announces a new trust for an asset, the market tends to react in a mixed way. For some, it’s like a double-edged sword: some see it as a sign of oversaturation in the market, while others see it as a new beacon of hope.
Some may interpret this launch as a sign that the market for the asset is close to saturation, or at least that there is limited upside in the cryptocurrency space. On the other hand, it is also a stamp of approval from a major player in the crypto space that could bring legitimacy to the asset, attract institutional investors, and at least increase media attention.
Grayscale has recently accelerated the launch of new investment products, indicating that they firmly believe that we are in the middle of a crypto bull market, driven by inflows into Bitcoin ETFs, the launch of the long-awaited Ethereum ETF, increased adoption of stablecoins, and steady growth in DeFi total locked value (TVL).
As a low-profile giant in the industry, investors continue to closely monitor Grayscale’s investment moves to gauge their views on the future direction of the industry. Which assets have caught their attention in this cycle? Let’s take a look.
Grayscale Decentralized AI Fund (FIL, NEAR, RNDR, LPT, TAO)
Grayscale Decentralized AI Fund is the first fund that invests only in native tokens of decentralized AI protocols. Currently, the fund includes Filecoin, Near, Render, Livepeer, and Bittensor.
Grayscale pointed out that people are worried that the future will be dominated by centralized AI, and encryption technology is expected to create a fairer and more transparent ecosystem. They believe that although the combination of encryption and AI is still in its early stages, the prospects are broad. By leveraging the power of encryption, we can build a fairer, transparent and trustworthy AI ecosystem.
Grayscale Dynamic Income Funds (SOL, CBETH, NEAR, etc.)
Grayscale Dynamic Income Fund (GDIF) aims to maximize returns by leveraging the growing staking rewards of tokens such as SOL, ETH, NEAR, etc. The fund maximizes returns by strategically allocating capital to tokens with attractive staking returns.
Grayscale is well known for its diversified approach to crypto investing. While they typically diversify across sectors, GDIF marks a new frontier: diversification across different types of tokens. This provides investors with unique income opportunities beyond the upside potential of the underlying tokens.
Other trust funds
Grayscale NEAR Trust (NEAR)
Grayscale believes that NEAR is a shining star in the crypto space, standing out for its strategic focus on AI and chain abstraction. NEAR's vision for user-owned AI is ambitious, but its active developer community, growing user base, and ample financial support enable it to achieve this goal. As global acceptance of AI continues to increase, NEAR is likely to become the platform of choice for developers and users.
Grayscale Stacks Trust (STX)
Stacks is Grayscale's bet on the Bitcoin Layer 2 (L2) space. Stacks solves Bitcoin's scalability and functionality challenges by building an L2 solution on top of Bitcoin that supports smart contracts. This approach allows developers to build a variety of applications on top of the Bitcoin blockchain.
As the Bitcoin ecosystem continues to grow and more DeFi activity is added, the need for scalability and cost reduction will become more urgent, and Stacks provides a solution to this problem.
Grayscale MakerDAO Trust
MakerDAO is the original DeFi project, and MKR is its native governance token, which is key to participating in the ecosystem. The launch of Grayscale MakerDAO Trust comes at a time when interest in blue-chip DeFi projects and their tokens is rising again.
Grayscale believes that MKR provides investors with access to diversified opportunities within the MakerDAO ecosystem, including on-chain credit protocols, stablecoins, real-world assets, and more.
Grayscale Bittensor Trust (TAO)
Bittensor's vision is to create an AI that is no longer a tool in the hands of a few companies, but a resource shared by all people. It aims to create an "AI Internet" where everyone can participate and benefit from AI models. TAO encourages participants to contribute to the network by providing rewards for validating models and running AI calculations.
As the AI race intensifies among large tech companies, Grayscale believes Bittensor offers an alternative approach to AI development that encourages broader participation and diverse thinking.
Grayscale SUI Trust (SUI)
Sui has a unique blockchain design that prioritizes scalability and user experience. It allows for parallel processing, capable of handling multiple transactions simultaneously. Sui's competitive advantage lies in its specially developed programming language, Sui Move, which simplifies the development and execution of smart contracts.
As demand for block space and faster execution increases in the crypto space, Grayscale believes Sui has opened the door to a new era of decentralized applications that were previously unattainable due to the limitations of existing blockchain infrastructure.
Grayscale Effect
Overall, the impact of the launch of Grayscale Trust on a specific asset is highly subjective. This does not mean that the asset is destined to be a huge success. Take Grayscale’s Decentraland Trust (MANA) as an example.
The key point is that Grayscale’s bullishness on the crypto market is very evident in its recent product launches. They believe we are currently in a bull market and are positioning themselves accordingly.
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