The most significant Bitcoin (BTC) along with cryptocurrency asset manager in the world, Grayscale, might be set to move to the ancestral finance space after records for several new trusts were registered in the Delaware corporate registry.
New hope filings for Aave (AAVE), Polkadot (DOT) and Cosmos (ATOM) were filed on Wednesday. On the same afternoon, Grayscale also enrolled trusts for Cardano (ADA), as well as the privacy coin Monero (XMR).
Grayscale has since said that the filings are not indicative of a definitive product launch for the five coins cited, only that the firm is currently laying the groundwork for potential future launches.
"Occasionally, we'll make reservation filings, although a filing doesn't mean we will bring a product to market," the firm told business media.
Grayscale's decision to enlarge its cryptocurrency horizons could have been spurred by the price performances of the five coins in question over the course of the year. Aave recorded 483% growth in the last quarter of the past year, rising to the 15th area by market capitalization. The job was a forerunner of the decentralized finance phase in 2020, focusing on borrowing and lending and flash loans.
Cosmos recorded similar development of 489 percent as the value of its ATOM coin climbed in the $1.50 range to over $9. The job is currently ranked 25th by market cap.
Polkadot, meanwhile, recorded 537% increase between launching in August 2020 and the time of composing. The project, which describes itself as a decentralized, interoperable, multichain protocol, takes aim at providing blockchain infrastructure and seeks to compete with Ethereum as a house for blockchain programmers.
Although not one of the graduating class of 2020, Monero also gained 467% over the course of this calendar year, although Cardano profited from the launch of its much expected Shelley mainnet, with gained 187% since that time.
The worth of Grayscale's assets under management soared throughout 2020, reaching over $25 billion, according to the latest figures released by the company.