Grayscale adds BONK and 30 other tokens to the list of assets under consideration in Q3.

Grayscale Research has just published a list of Assets under consideration for Q3/2025, detailing the tokens that the company may include in future investment products. Unfortunately, the company did not explain any of the choices.

This list includes 31 altcoin candidates, lower than the three previous quarterly updates. Many altcoins have been completely eliminated or replaced by new altcoins, and the classification of assets has become more complex.

Grayscale's List of Assets Under Consideration

Grayscale, one of the largest Bitcoin ETF issuers, owns a variety of products and diverse business projects. Periodically, the company's research department publishes a list of promising altcoins and investment recommendations by sector.

The company has just announced the version of the "Assets Under Review" list for Q3 2025, including some useful details.

Compared to Grayscale's Q2/2025 list, this asset review has some significant changes. While the previous version showed interest in 40 altcoins, today's list includes only 31 projects.

This figure is lower than both the list for Q1/2025 and Q4/2024, indicating a contraction in scope.

Grayscale has removed quite a few projects. For example, the Q2 version had 12 altcoins in the "Smart Contract" category, while the latest version only has 7. Previously, the "Utility & Services" section had 13 tokens, and this number has decreased to 4.

The 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 Sentiment.

Compared to the previous list, only a few old Assets were included in the current list.

Notably, Grayscale has created a new category for AI tokens and a few members from the previous list have been named in this category. However, there are only a few major changes.

For example, BONK has joined the list after a week of strong growth. The token price also continues to grow strongly today.

BONK price performance – 4 hours | Source: TradingViewUnfortunately, Grayscale did not provide any specific reasons behind these changes in its listings.

MegaETH, Monad, Lombard, Playtron, Prime Intellect and Story (IP) have an uncertain status, as Grayscale stated that these tokens do not fit into one of the main asset categories.

The company provides detailed explanations for the Top 20 list, but the Assets under consideration always include raw data. It's hard to grasp Grayscale's logic with all these changes.

Vincent