Grayscale Submits 6 More Altcoins! Prices Rise

Institutional crypto fund giant Grayscale has filed for trust for a number of new altcoins, including Yearn Finance and SushiSwap, less than a month after first returning to decentralized finance (DeFi).

Offering today’s largest crypto-asset trusts for institutional investors, Grayscale is diving deeper into the DeFi branch with more trust applications in addition to Aave and Polkadot it presented last month.

According to the Delaware company registration, which is Grayscale’s legal trustee for the state, several applications were filed on February 10, following six applications on January 27. In addition to the aforementioned Aave and Polkadot, the following cryptocurrencies were preferred: Uniswap (UNI), Cosmos (ATOM), Monero (XMR) and Cardano (ADA) were added to the trust documents. Also on February 1, a Theta Network (THETA) trust was registered.

DeFi aggregator Yearn Finance (YFI), Uniswap clone SushiSwap (SUSHI), Compound Finance (COMP), crypto lender MakerDAO (MKR), synthetic asset platform Synthetix (SNX), and decentralized storage platform amid new filings Blockstack (STX) is included.

Grayscale in late 2020; It has applied for trust for Chainlink (LINK), Basic Attention Token (BAT), Decentraland (MANA), Tezos (XTZ), Filecoin (FIL), and Livepeer (LPT).

Grayscale currently has 33 registered trusts. But only nine are active. As reported, in mid-January 2021, the firm removed its XRP trust following Ripple’s ongoing legal effort with the Securities and Exchange Board.

Applications do not necessarily mean that these trusts will be initiated.

Grayscale has reached $36.8 billion

Measure of assets under management since Grayscale filed for trust for DeFi altcoins on January 29 It increased by +47 to $36.8 billion.

Grayscale’s current trusts are dominated by Bitcoin (with $30.2 billion). BTC).

Altcoin prices in the DeFi area set a record

Yearn Finance (YFI), hitting a new all-time high of $51,544 around 14:00 CET. In addition, SUSHI broke the record with $ 17.38 at night. COMP is at $531, up 10% at the time of writing. MKR is trading at $2,623 while SNX is changing hands at $26.

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