Grayscale expanded its quarterly “Assets Under Consideration” list on January 13, 2026, increasing coverage to 36 altcoins from 32 in the prior quarter. In our view, this is a concrete signal that Grayscale is widening its research funnel while tightening thematic focus into H1 2026.
The updated slate reflects a deliberate tilt toward tokenization, DePIN, and AI-related projects that Grayscale is actively evaluating for possible future products. We’re treating the sector mix and the adds/removals as an early read on where diligence hours and regulatory workstreams are being prioritized.
What changed in the January 13 update
The list is organized across five sectors, with a refreshed mix of names under each. The important point is that the expansion in count is paired with a clearer thematic clustering rather than a generic “more tokens” approach.
In smart contract platforms, the set includes Aptos (APT), Arbitrum (ARB), Binance Coin (BNB), Celo (CELO), Mantle (MNT), MegaETH (MegaETH), Monad (MON), Polkadot (DOT), Toncoin (TON), and Tron (TRX). This basket reads like a blend of established networks and newer platform bets that could support future product packaging.
In financials, Grayscale is tracking Ethena (ENA), Euler (EUL), Hyperliquid (HYPE), Jupiter (JUP), Kamino Finance (KMNO), Lombard (BARD), Maple Finance (SYRUP), Morpho (MORPHO), Pendle (PENDLE), Plume Network (PLUME), and Sky (SKY). This grouping reinforces that on-chain financial primitives remain central to the firm’s evaluation pipeline.
In consumer & culture, the list includes ARIA Protocol (ARIAIP), Bonk (BONK), and Playtron (Playtron). We view this as a smaller, more selective sleeve where tokenization narratives and consumer distribution are doing the heavy lifting.
In artificial intelligence, the list covers Flock (FLOCK), Grass (GRASS), Kaito (KAITO), Nous Research, Poseidon, Virtual Protocol (VIRTUAL), and Worldcoin (WLD). The breadth here supports the idea that AI-native tokens are being treated as a primary theme rather than a niche add-on.
In utilities & services, Grayscale includes DoubleZero (2Z), Geodnet (GEOD), IOTA (IOT), LayerZero (ZRO), Wormhole (W), plus DePIN-adjacent positioning embedded in the sector definition. This is the clearest “infrastructure rails” bucket, where custody, settlement, and interoperability considerations are likely to dominate evaluation.
The rebalanced list also spotlights tranche-specific themes: tokenized intellectual property (ARIAIP), decentralized physical infrastructure networks (DoubleZero), and AI-native protocols (Nous Research, Poseidon), while removing at least one previously tracked asset (Prime Intellect). Net-net, the changes compress sector breadth into a tighter set of structural narratives, not just a larger roster.
What this signals for product and compliance
Inclusion on the “Assets Under Consideration” list does not mean Grayscale is committing to launch a product. We’re treating this list as an “active evaluation” indicator—useful for forecasting attention, not for assuming imminent productization.
That said, Grayscale’s market footprint matters, because any later filings or launches tied to these names can shape liquidity formation and institutional adoption patterns. The practical takeaway is that subsequent product moves—especially around established tokens—can become catalysts even when the list itself is only exploratory.
From a product and compliance perspective, the list implies where diligence effort will likely concentrate: token economics reviews for AI tokens, custody and settlement permutations for DePIN and Layer solutions, and regulatory readiness for protocols that may intersect with ETF-style workflows. Notably, the update highlighted procedural filings for BNB and Hyperliquid, which signals regulatory workstreams that may precede any product packaging.
