Grayscale adds BONK, Hypeliquid, and 30 other tokens to its new asset list in Q3.

Grayscale Research has just released the list of Assets Under Consideration for Q3 2025, detailing the tokens they may include in future investment products. Unfortunately, the company did not explain the reasons for these selections.

This list includes 31 altcoin candidates, fewer than the last three quarterly updates. Many altcoins have been completely removed or replaced with new candidates, and the reclassification of assets makes full aggregation more complicated.

Grayscale's Current Asset Review List

Grayscale, one of the largest Bitcoin ETF issuers, has a diverse product portfolio and various business activities. Periodically, their research department releases a list of potential altcoins and investment recommendations by sector.

The company has just released the Q3 2025 version of the "Assets Under Review" list, containing a wealth of useful information:

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: pic.twitter.com/4AriQI2l5o

— Grayscale (@Grayscale) July 10, 2025

Compared to Grayscale's Q2 2025 list, this review of Assets Under Consideration has significant changes. While the previous version showed interest in 40 altcoins, the current list includes only 31.

This number is lower than both the Q1 2025 list and the Q4 2024 list, indicating a significantly narrower range.

So, which altcoins seem the most promising? Grayscale has cut down a lot to create this list; for example, the Q2 version has 12 altcoins in the "Smart Contracts" category, while this list only has seven. "Utilities & Services" has 13, and has been reduced to 4.

A complete list of altcoins that have been removed includes: Babylon, Berachain, Celestia, MOVE, TRON, VeChain, Mantra, ELIZA, Immutable, Akash, FET, Arweave, Eigen Layer, Geodnet, Helium, and Sentient. Quite a number of cuts.

In comparison, only a few Assets Under Consideration previously have been included in Grayscale's current products.

Grayscale has created a new portfolio for AI tokens, and a few members from the previous list have now joined this portfolio. However, there are only a few truly noteworthy changes.

BONK, for example, joined the list after a week of strong activity, continuing to rise sharply today, up 14%.

Unfortunately, Grayscale did not provide specific reasons for these changes in their listings. MegaETH, Monad, Lombard, Playtron, Prime Intellect, and Story (IP) have unclear statuses, as Grayscale deems these tokens unsuitable for one of their main asset categories.

The company provides detailed explanations in their Top 20 list, but the Assets Under Review only include raw data. It is very difficult to fully understand Grayscale's logic behind all these changes.

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