Eight DeFi cryptocurrencies could soon become listed financial products.
DeFi cryptocurrencies tradable on the stock exchange? Influential crypto wealth management company Grayscale could soon make this a reality
According to a recent press release , the asset management company, which has already brought several cryptocurrencies to the stock exchange as investment funds, including the Bitcoin ( BTC ) -based Grayscale Bitcoin Trust, is planning to list further crypto financial products. Of the 23 possible cryptocurrencies, 8 come from the field of decentralized financial services (DeFi).
Up-and-coming DeFi projects such as Aave, Compound (COMP), MakerDAO (MKR), Reserve Rights (RSR), SushiSwap (SUSHI), Synthetix Network Token (SNX), Uniswap (UNI) and Yearn.finance (YFI) stand alongside established ones Blockchain networks like Polkadot (DOT), Cosmos (ATOM) and Cardano (ADA) are on the list of possible financial products. Further evidence that “ the big re-evaluation “ in the crypto industry is now in full swing.
„We are pleased to expand our product range in order to be able to cover the needs of our investors even better,“ as Grayscale boss Michael Sonnenshein writes in the accompanying press release. He adds: „The crypto industry is constantly evolving, which is why we are striving to find daring, interesting and innovative investment opportunities that meet our investors‘ demand for a broad base in this burgeoning asset class.“
In this regard, Grayscale explains that factors such as „safe custody and legal requirements“ also play an important role in the selection of the crypto projects that are to be made into listed financial products. However, this could lead to obstacles , especially for DeFi projects
In the past, Grayscale has been criticized for the selection of the crypto projects it represents in its financial products, including the Bitcoin offshoot Bitcoin Cash ( BCH ) and the controversial Ripple cryptocurrency XRP . Grayscale had last month applications for new mutual funds based on the now presented crypto currencies filed .
The selection decisions that asset management makes are far-reaching because crypto financial products such as the Grayscale Bitcoin Trust and the Grayscale Ethereum Trust are important vehicles for both institutional and retail investors. Grayscale products are particularly interesting for large investors, as they usually prefer traditional investment routes . The exchange rate differences between Grayscale’s crypto investment products and the associated crypto currencies are therefore often important indicators for the market.