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Why Is Polygon (Matic) Not on Grayscale’s Altcoin Trusts?

The largest crypto asset management company Grayscale investments are expanding their horizon into altcoins with 5 new crypto trusts based on BAT, LINK, FIL, MANA, and LPT.

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LINK is Chainlink’s native token, BAT an ad exchange marketplace, FIL decentralized file storage and sharing network, MANA the money for virtual world decentral and, LPT a video streaming network.

The firm says all of the trusts are structured as a Delaware Grantor Trust, meant to only hold the underlying assets. This will be similar to the firm’s other trusts such as Bitcoin, Etheruem, Bitcoin cash, etc.

The Math Behind the Selection of Altcoins!

The reason behind selecting these altcoins is basically investor demand that “has never been higher” and the tokens have reached an inflection point, said the CEO of the firm.

Not just the investor demand has been studied but the firm has examined the reliability and potential of the blockchains that these tokens are based on.

With Bitcoin surging to a new high every day, these altcoins, LINK has hiked 5.4% in 2 weeks, and BAT has been up by 41.4%, likewise FIL by 89.1%, MANA by 270.4%, and LPT by 218%.

The CEO of Grayscale Micheal Sonnenshein further said,

” At any one time, we’re probably maintaining a list of what could be 30 products, could be 40 products that we’re interested in bringing to the market”.

Although, these altcoins are not the most mainstream ones’ grayscale believes they have always been ahead of the time, and this time is no different.

Grayscale may also offer trusts for Aave, Cosmos, Polkadot, Monero, and Cardano if the filings are followed.

The firm holds more than $42.9 Billion in Assets under management as of March 16th.

Why Not MATIC Token?

With Grayscale’s new investment expansion and betting on altcoins out of the mainstream eye. It is only rational to question why not MATIC.

MATIC, the blockchain scalability platform based on Ethereum, can be seen as the next emerging/booming token in this altcoin season, it has had great developments like getting launched on the largest DEX platform Coinbase recently, and getting traction of $457 Million in trading volume across exchanges.

The growth trajectory looks highly promising with the #53 Market cap rank, 293.1% surge in last 30 days, and $86.4% rise in the last Fortnight, according to CoinGecko.

In comparison to some of the selected altcoins like MANA and BAT, MATIC has better market stats.

Will Grayscale consider MATIC in the future is not known yet, but it could be a good bet.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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