Grayscale has announced a review of 35 altcoins, including popular names like Dogecoin and Worldcoin, for potential inclusion in its future investment products.

In a recent blog post, Grayscale categorized these potential investment candidates into five distinct groups: Currencies, Smart Contract Platforms, Financials, Consumer & Culture, and Utilities.

The majority of the tokens under consideration are from smart contract platforms, featuring projects such as Aptos, Arbitrum, and Celestia.

Additionally, Grayscale is evaluating several Solana-related tokens, including the decentralized exchange Jupiter, oracle provider Pyth, and infrastructure network Helium.

Layer-2 projects like Polygon and Optimism are also included, expanding Grayscale's existing investments in layer-1 cryptocurrencies such as Cardano and Ethereum.

Dogecoin, the largest meme coin by market cap, continues to gain traction, bolstered by support from figures like Elon Musk, while Worldcoin is backed by Sam Altman of OpenAI.

Grayscale has highlighted 20 altcoins with high potential for the fourth quarter of 2024, which includes six new entries compared to the previous quarter.

Other notable tokens in consideration include Toncoin, TRON, and Sei, reflecting Grayscale's diverse investment strategy.

Currently, Grayscale manages over $20 billion worth of digital assets and offers 30 investment products, including cryptocurrency investment trusts and ETFs.

Despite its significant holdings, Grayscale has faced challenges, losing over $20 billion since converting its GBTC fund to a spot Bitcoin ETF earlier this year.

This decline in assets is attributed to substantial outflows, with investors selling off $20 billion worth of GBTC shares.

Grayscale's list of candidates for investment may change quarterly as the company reevaluates the projects under consideration.