Grayscale's Q2 2025 Altcoin Watchlist: DeFi, RWA, and More

Grayscale has revised its "Assets Under Consideration" list for Q2 2025, featuring 40 altcoins from industries such as smart contract platforms, financials, consumer & culture, and utilities & services. The revision highlights Grayscale's assessment of new crypto market trends and possible investment opportunities.

Some of the assets featured in the list are prominent assets like Aptos, Arbitrum, Celestia, Hedera Hashgraph, and VeChain in the category of smart contract platforms, as well as financial assets like Binance Coin, Ethena, and Ondo Finance. Consumer & culture assets feature Immutable and Story, while utilities & services have Akash Network, Arweave, and Helium.

The most notable changes are the deletion of Kaspa and the addition of Babylon, Berachain, Monad, Movement, Lombard, Mantra, Eliza, DeepBook, and Walrus. Maple Finance is moved to Financials, and Geodnet is under Utilities & Services. These are indicative of the interest Grayscale has in decentralized finance (DeFi), real-world assets (RWA), and intellectual property tokenization, although the list is not fixed and is open to change depending on market conditions.