Grayscale quietly bought more of four altcoins, which reads as institutional positioning and a shift toward tokens that already serve a purpose. A large buyer changes liquidity and risk appetite as traders, corporate treasurers plus derivatives desks track the flows and the open interest figures.
Three of the four tokens—Cardano (ADA), Stellar (XLM) and Polkadot (DOT)—while the fourth token is not disclosed. The emphasis falls on assets that already deliver utility, governance rights or real-world use, aligning with an allocation mindset.
Cardano builds a scalable chain with on‑chain governance; its layer‑2 Hydra targets one million transactions per second and, analysts could cut costs by about forty percent.
Stellar focuses on cross‑border payments and tokenises real world assets (RWA); the chain recorded three billion dollars of RWA volume in the first quarter of 2025. RWA stands for real world assets that are tokenised but also moved on chain.
Polkadot relays data between blockchains; tests on the Kusama canary network hit 143 000 TPS while the relay ran at twenty three percent load.
Market consequences and projections
Grayscale’s holdings can push other managers toward tokens that already deliver utility and governance rights, reinforcing a preference for networks with clear functions.
Steady purchases shrink the free float and raise price sensitivity to further flows, while spreads tighten and perpetual‑funding rates shift.
Analysts publish price projections—ADA USD 3.50, XLM USD 0.79 near‑term besides USD 8 long term, DOT USD 10.40—but those are estimates, not guarantees, and pullbacks remain possible.
The approach aligns with treating crypto as a portfolio tool, yet it still depends on forthcoming ETF approvals besides wider rule making.
The signal is that Grayscale acts as a strategic allocator, not a short‑term trader. The accumulation points to a preference for tokens with real use or RWA traction, with next checkpoints in the 2025 roadmaps of Cardano next to Polkadot and the second quarter RWA volume figures.
In practical terms, the build‑up recasts these assets as portfolio tools rather than gambles, and the coming roadmap milestones and RWA metrics will test that thesis as market participants continue to monitor flows and open interest.
