- Grayscale has added Apecoin (APE), Cronos (CRO) and Kyber Network Crystal (KNC) to its list of assets under consideration.
The crypto-focused Wall Street investment firm known as Grayscale has expanded its list of assets under consideration to include Apecoin (APE), Cronos (CRO), and Kyber Network Crystal (KNC).
The Grayscale team announced the new additions earlier today, explaining that their choice was based on a complex and multi-faceted process. They said:
The process of creating an investment product similar to the ones we already offer is a complex, multi-faceted process. It requires significant review and consideration and is subject to our internal controls, custodial agreements and regulatory considerations, among others.
The current Grayscale assets under consideration are:
0x (ZRX), 1inch (1INCH), APE (Apecoin), Arweave (AR), Axie Infinity (AXS), Bancor (BNT), BitTorrent (BTT), BORA (BORA), Convex (CVX), CRO (Cronos ), Decred (DCR), Elrond (EGLD), Enjin (ENJ), EOS (EOS), Fantom (FTM), Flow (Dapper Labs) (FLOW), Gala (GALA), Gelato (GEL), Helium (HNT) , Holo (HOT), Internet Computer (ICP), IOTA (IOTA), Kava (KAVA), KNC (Kyber Network Crystal), Loopring (LRC), Monero (XMR), NEAR (NEAR), Numeraire (NMR), Oasis Network (ROSE), Ren (REN), Reserve Rights (RSR), Secret (SCRT), Spell (SPELL), Stacks (STX), Tezos (XTZ), The Graph (GRT), The Sandbox (SAND), Universal Market Access (UMA), VeChain (VET), Yearn.finance (YFI), Yield Guild Games (YGG)
Adding a digital asset to the list does not mean that it will be converted into a grayscale investment product.
The Grayscale team also pointed out that the list of assets under consideration is for guidance only and should not be taken as confirmation that every crypto asset on the list will be converted into one of its investment products.
The Supreme Court is an option for his petition against the SEC.
It’s also worth mentioning that earlier this week, Grayscale’s chief legal officer, Craig Salm, sat down for a Q&A session where he explained the company’s strategy regarding its Bitcoin Spot petition. Current ETF against the SEC.
According to Salm, the motion process in the DC Circuit Court of Appeals could take between twelve months and two years, depending on the arguments of both parties. He also added that if Grayscale loses its appeal at the appellate level, it has two choices: an “en banc” hearing or an appeal to the U.S. Supreme Court.
An “en banc” hearing is when a case is heard before all the judges of a court rather than by one judge or a small group of judges. The United States Supreme Court is the final level of appeal in the federal court system.
Mr. Salm elaborated on the possibility of the latter scenario in the following statement.
If Grayscale or the SEC loses, either side could appeal the decision to the Supreme Court. If the Supreme Court decides to take up the case, we would proceed with a legal process similar to that of the appeal level: application for review, information sessions, oral arguments and final decision.