Building a well-diversified portfolio has gotten harder, due to more narrowly concentrated returns in traditional assets, changing correlations, and macro risks. At Grayscale, we believe that the crypto asset class can be one way to help address these challenges. The crypto asset class includes a wide range of technologies with many specific use cases. For example, Bitcoin is a monetary system while Aave is a lending protocol and Bittensor is a platform for building open-source AI. This diversity raises questions for asset allocators: Should crypto assets be thought of as commodities, technology investments, or something else when considering an allocation in investment portfolios?
