Grayscale Shakes Up Crypto: BONK, Hypeliquid, and 30 Other Tokens Join Q3 Portfolio
Grayscale just dropped a bombshell—32 new tokens, including meme darling BONK and DeFi dark horse Hypeliquid, are crashing its Q3 party. The move signals institutional appetite for riskier plays (or maybe just FOMO dressed in a suit).
Why it matters: When the world’s largest crypto asset manager diversifies, altcoins rally. But let’s see how long the champagne flows before the next 'macro headwind' excuse.
Pro tip: Watch for copycat inflows—nothing moves markets like herd mentality with a Bloomberg Terminal.
Grayscale’s Assets Under Consideration List
Grayscale, one of the largest Bitcoin ETF issuers, has a diverse range of products and other business ventures. Periodically, its research arm publishes lists of promising altcoins and sector-specific investment recommendations.
The firm just released the Q3 2025 version of its “Assets Under Consideration” list, containing a chunk of useful insights:
Learn about the diverse digital assets we’re considering for future investment products and explore those already part of our offerings in our latest Assets Under Consideration update. Are we missing anything?
Read the full list and article: https://t.co/Tr5lU1CSSQ pic.twitter.com/4AriQI2l5o
Compared to Grayscale’s Q2 2025 list, this round of Assets Under Consideration makes several substantial changes. Whereas the previous incarnation showed interest in 40 altcoins, today’s list only includes 31.
This is fewer than both the Q1 2025 and Q4 2024 lists, showing a significantly narrowed window.
So, which altcoins seem most promising? Grayscale did a lot of trimming to make this list; for example, the Q2 version had 12 altcoins in the “Smart Contracts” category, while this one only has seven. “Utilites & Services” had 13, and this shrank to 4.
A full account of removed altcoins proceeds as follows: Babylon, Berachain, Celestia, MOVE, TRON, VeChain, Mantra, ELIZA, Immutable, Akash, FET, Arweave, Eigen Layer, Geodnet, Helium, and Sentient. Quite a lot of cuts.
Comparatively, only a handful of previous Assets Under Consideration got included in Grayscale’s current product offerings.
Granted, Grayscale made a new category for AI tokens, and a few members of the previous list now join this category. Nonetheless, there are only a few real upsets.
BONK, for example, joins the list after a week of strong performance, continuing to rise dramatically today:
Unfortunately, Grayscale did not provide any specific rationale behind this set of changes to its list. MegaETH, Monad, Lombard, Playtron, Prime Intellect, and Story (IP) have an uncertain status, as Grayscale claims that these tokens don’t fit into one of its main asset categories.
The firm provides detailed explanations in its Top 20 lists, but Assets Under Consideration always consists of raw data. It’s difficult to completely understand Grayscale’s logic for all of these alterations.
