Grayscale Eyes 35 Altcoins for New Investment Products — SUI and Optimism Among Top Contenders

• Grayscale is reviewing 35 major altcoins across five categories—Currencies, Smart Contract Platforms, Financials, Consumer & Culture, and Utilities & Services.
• Grayscale also revealed 20 promising altcoins for Q4 2024, including names like Optimism (OP), Sui (SUI), and Helium (HNT).

Leading asset manager Grayscale has announced that it is reviewing 35 major altcoins for potential inclusion in its future investment products. The altcoins are organized into five categories: Currencies, Smart Contract Platforms, Financials, Consumer & Culture, and Utilities & Services.

This initiative aligns with Grayscale’s goal of continuously expanding its digital asset offerings with the recently launched XRP Trust in the spotlight.

Grayscale Unveils 35 Altcoins for Future Trusts

According to Grayscale, the “Assets Under Consideration” list represents digital assets that are currently not part of any Grayscale product but are potential candidates. The company explained that in the currencies category, the asset manager is considering the altcoin Kaspa (KAS), which has witnessed strong bullish action, per the CNF report. 

For Smart Contract Platforms, the assets under review include:

• Aptos (APT)
• Arbitrum (ARB)
• Celestia (TIA)
• Celo (CELO)
• Core (CORE)
• Cosmos (ATOM)
• Internet Computer (ICP)
• Mantle (MNT)
• Metis (METIS)
• Neon (NEON)
• Optimism (OP)
• Polygon (POL)
• Sei (SEI)
• Starknet (STRK)
• Toncoin (TON)
• TRON (TRX).

Meanwhile, the Financials category includes altcoins such as Aerodrome (AERO), Ethena (ENA), Injective Protocol (INJ), Jupiter (JUP), Mantra (OM), Ondo Finance (ONDO), Pendle (PENDLE), and THORChain (RUNE). In the Consumer & Culture category, the widely recognized Dogecoin (DOGE) and Immutable (IMX) grabbed a spot.

The Utilities & Services group features Akash (AKT), Arweave (AR), Artificial Superintelligence Alliance (FET), Helium (HNT), Pyth (PYTH), UMA Project (UMA), VeChain (VET), and Worldcoin (WLD). Grayscale noted that they may update this list quarterly depending on the team’s reassessment of the crypto projects.

Q4 Altcoin Recommendation

In addition to the review, Grayscale also revealed a list of 20 altcoins with significant potential for Q4 2024. This list includes new names compared to the previous quarter, such as Optimism (OP), Sui (SUI), Bittensor (TAO), Celo (CELO), UMA Protocol (UMA), and Helium (HNT).

These additions signal Grayscale’s focus on sectors like artificial intelligence, decentralized physical infrastructure networks (DePIN), and prediction markets. For context, Grayscale Investments now manages over $20 billion in digital assets.

Moreover, it’s important to note that Grayscale has been particularly bullish on SUI. Thus, it launched a dedicated trust for the SUI altcoin in August. Since the fund launch, SUI has surged by almost 300%. Furthermore, SUI price has seen a 46% rise in October alone, reaching a high of $2.36 with the 30-day gains surpassing 120%, reported CNF. 

However, despite launching an XRP Trust, the investment firm didn’t list the Ripple token in its 20 altcoins list. Nonetheless, they are expected to enter the spot XRP ETF race as the newly launched fund may act as a stepping stone for the initiative. As of yet, Bitwise and Canary Capital have filed for a spot XRP ETF, reported CNF.