The world’s largest asset manager, Grayscale, moves towards the DeFi space as it recently filed for new coin trust regulations. Specifically, Grayscale filed for Aave (AAVE), Polkadot (DOT), and Cosmos (ATOM) on the 27th of January. The asset manager also registered trusts for Monero (XMR) and Cardano (ADA).
Following the Delaware corporate registry filing, Grayscale said the filings do not suggest the final launch of the five digital assets. It however said that there is ongoing groundwork for possible launches in the nearest future
In a statement , Grayscale said:
“Occasionally, we will make reservation filings, though a filing does not mean we will bring a product to market.”
In 2020, the value of Grayscale’s assets under management rose to more than $25 billion.
Cointelegraph noted that the price performance of the five coins may have triggered Grayscale’s decision.
Aave surged by 483% in the 2020 Q4, pushing the coin to the 15th largest digital asset by market value. Also, DOT had gained more than 530% since its launch in August 2020. At the time of writing, DOT is up 11.93% to $17.15.
Furthermore, Cosmos, Monero, and Cardano have also been recording increases. Cosmos is currently up over 17% and trading at $8.16%. Privacy coin Monero added 467% in 2020, while Cardano has gained 187% since the launch of its Shelley mainnet in July, 2020.
In November last year, Grayscale’s Ethereum Trust hit $1 billion in assets under management.
Image Credits: Pixabay
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