Grayscale Updates Q3: AVAX, MORPHO Enter Top 20 List
- Grayscale adds AVAX, MORPHO to Top 20 in Q3 2025.
- Grayscale’s move could impact market trends.
- Expect shifts in project-specific focus and investment.
Grayscale Research announced the inclusion of AVAX and MORPHO in its Top 20 list for Q3 2025. The decision marks a response to increasing on-chain activity and decentralized lending strength.
Grayscale’s update signals potential shifts in crypto sector performance and asset allocation preferences.
Grayscale’s Strategic Adjustments
Grayscale Research has made a strategic decision to adjust its Top 20 assets. AVAX and MORPHO were added due to increased on-chain activity and growth in decentralized lending. This reflects a shift in market dynamics.
“AVAX and MORPHO have been added, driven by increased on-chain transaction activity and robust growth in decentralized lending, respectively. LDO and OP have been removed due to competitive pressure from centralized staking services and uncertainty regarding token revenue distribution.” – Grayscale Research, Official Q3 2025 Report, Grayscale
The update was announced without direct quotes from Grayscale leadership. Grayscale’s report indicates that LDO and OP were removed. The firm emphasized sector performance and project-specific fundamentals in its analysis.
Implications for the Crypto Market
Grayscale’s inclusion of these assets often enhances institutional allocator interest. These changes could prompt shifts in fund flows and index product allocations. Increased activity in AVAX led to its recognition.
The decision affects assets directly involved in DeFi and smart contracts. Removed assets faced challenges from centralized staking services and reduced Ethereum reserves. Impacts extend to the broader DeFi sector.
Inclusion or removal from Grayscale’s lists often prompts scrutiny from institutions. AVAX’s on-chain activity demonstrates its potential in DeFi. Grayscale’s decisions are important signals for future investment trends and confidence.
