The grayscale Q3 2025 candidate Token list is out: the number has sharply decreased to 31, AI becomes a new category, and many projects have been eliminated.
Grayscale, one of the largest Bitcoin ETF issuers globally, has just released its "Assets Under Consideration" list for the third quarter (Q3) of 2025 from its research department. This list, which has garnered significant attention from crypto asset investors, reveals the potential tokens for future investment products that Grayscale may launch. Key changes include: the number of assets on the list has drastically reduced from 40 in Q2 to 31, marking a near three-quarter low; a new category for "AI Tokens" has been established; 16 projects, including Celestia, Fetch.ai (FET), Arweave, TRON, VeChain, Berachain, EigenLayer, etc., have been removed; the number of various token categories (such as smart contract platforms, tools, and services) has sharply decreased. Notably, Grayscale has not provided specific reasons for this adjustment, leaving suspense for crypto market analysis and token selection logic.