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- Grayscale has identified a new driver for Ethereum, Solana, and BNB Chain following the SEC’s proposal on token sales.
- This view is linked to the role of networks in tokenization.
- In addition, the expert expects the development of token-based fundraising.
Investment firm Grayscale believes the proposed SEC cryptoasset regulatory framework could create conditions for a revival of token sales in the country and increase demand for blockchain infrastructure. In the company’s view, potential beneficiaries of this process could include the Ethereum, Solana, and BNB Chain networks, which already play an important role in asset tokenization and the development of onchain finance.
This refers to the SEC’s proposal for a new regulatory framework for cryptoassets and token sales. The regulator is considering mechanisms that would allow certain crypto projects to raise capital through tokens under simplified rules, while also setting disclosure requirements and investor protections.
Grayscale: New Rules Could Bring Token Sales Back to the US
At Grayscale, the firm views this regulation more broadly than just another regulatory initiative. The company believes the proposed approach could lay the groundwork for token-based fundraising within US jurisdiction.
This scenario could potentially change the landscape for crypto projects that in recent years have been forced to rely on venture funding, structures outside the US, or restrict access for US investors due to uncertainty around token status.
If clear rules emerge, token sales could become another way to finance blockchain projects alongside traditional venture capital. And a rise in the number of such offerings would mean additional demand for the networks on which tokens are issued and traded.
This is where Grayscale highlights Ethereum, Solana, and BNB Chain.
These networks are already among the main venues for tokenized assets. In its report, Grayscale notes that current tokenization activity is largely concentrated on Ethereum, BNB Chain, and Solana, and that further growth in this segment could create additional value for the blockchains that process such transactions.
Recall that in July, the volume of tokenized assets on BNB Chain set a record at $19 billion. At the same time, Consensys CEO and founder Joseph Lubin is confident that tokenization will encompass the entire global economy.
Notably, Grayscale’s stance on Ethereum and Solana is not limited to token sales. Earlier, the company separately drew attention to the role of these networks in developing infrastructure for artificial intelligence. In a Grayscale Research study, head of research Zach Pandl noted that the spread of AI will create new demand for public blockchains. In this scenario, the company views Ethereum and Solana primarily as infrastructure for the agent economy.
Grayscale also forecasts that Ethereum and Solana could become scarcer due to changes in their tokenomics. In effect, the company is shaping a broader thesis: both networks could benefit from rising onchain activity, and their native assets — from a potential reduction in issuance.
Source: incrypted.com