Grayscale Research has just released its third quarter 2025 list of Assets Under Consideration, detailing the tokens it may include in a future investment product. Unfortunately, the firm did not explain any of its choices.
The firm has just released the third quarter 2025 version of its “Assets Under Consideration” list, which contains a number of useful insights:
Compared to Grayscale's second quarter 2025 list, this round of Assets Under Consideration makes several substantial changes. While the previous version showed interest in 40 altcoins, today’s list only includes 31.
This is less than both the first quarter of 2025 list and the fourth quarter of 2024 list, showing a significantly narrower window. So, which altcoins seem most promising?
Grayscale made many cuts to create this list; for example, the second quarter version had 12 altcoins in the “smart contracts” category, while this one only has seven. “Utilities and Services” had 13, and this was reduced to 4.
A complete count of the removed altcoins is as follows: Babylon, Berachain, Celestia, MOVE, TRON, VeChain, Mantra, ELIZA, Immutable, Akash, FET, Arweave, Eigen Layer, Geodnet, Helium, and Sentient. Quite a few cuts.
Comparatively, only a handful of the previous Assets Under Consideration were included in Grayscale's current product offerings. Granted, Grayscale created a new category for AI tokens, and some members of the previous list now join this category. Nevertheless, there are only a few real surprises.
BONK, for example, joins the list after a week of strong performance, continuing its dramatic rise today. Unfortunately, Grayscale did not provide any specific justification behind this set of changes to its list.
