Grayscale Removes Kaspa (KAS) from Its Potential Listing Assets — What's Next?

Grayscale has taken Kaspa (KAS) off its list of potential assets to be listed. This adds Grayscale to the growing list of major financial institutions keeping their distance from Kaspa.

Major financial institutions are keeping their distance from Kaspa (KAS) as the peer-to-peer proof-of-work cryptocurrency continues to be a hot topic in the crypto community.

This time, Grayscale has taken Kaspa off its list of potential assets to be listed.

This move adds Grayscale to the growing list of major institutions that aren’t planning to list KAS.

Could Be Awaiting Top 50 Coins List

A key Kaspa community member, known as KaspaSilver, says that this could mean two things: either Grayscale is about to list KAS, or they’ve decided not to move forward with it.

KaspaSilver’s friend reached out to Grayscale and was told that they make sure all top 50 coins get listed—a category where KAS has consistently maintained its position. It isn’t clear why Kaspa was removed.

Revealing Grayscale’s plan to list the top 50 cryptos gives the KAS community some hope if they remain at that level or higher. At the time of writing, Kaspa is at the 43rd position in the crypto ranking by market capitalization.

But KaspaSilver says that institutional recognition shouldn’t be the main goal for a p2p PoW cryptocurrency like Kaspa.

“The goal of Kaspa is NOT to have coins sitting in a wallet for eternity but instead for it to be used and the goal of this community should be to strive for that goal and not some futile attempt at chasing a figment of the institutions’ attention,” KaspaSilver adds.

Major Institutions Are Seemingly Sidestepping Kaspa

Many in the Kaspa community are wondering why big players seem to be avoiding their cryptocurrency.

Community member Shem highlighted this puzzling situation. Despite Kaspa’s Crescendo update coming in just three weeks and being listed on most global exchanges, major U.S. exchanges (except Kraken) haven’t yet added it to their platforms.

Let me ask you a question. What good has come from the past 5 or 6 months of being on the GS list? I feel like no major US exchange is listing Kaspa. Isn't it surprising that out of all the major institutions, only Kraken has decided to list Kaspa? I wonder why they've chosen not to.

KaspaSilver doesn’t think that Kaspa is being “avoided” but rather “strategically ignored” by these institutions – suggesting there’s a calculated decision behind this rather than complete rejection.

Analyst Optimism About Kaspa Future Despite This

Although big institutions are lagging, many analysts are optimistic about Kaspa’s future.

Community member SURAJ_041 went as far as to predict that “KAS is going to be in the top 3 crypto in the world.” This optimism stems from Kaspa’s technological advances, especially its progress toward 10 blocks per second (BPS) and smart contracts.

This view aligns with Kaspa’s technological ambitions. Kaspa uses the GHOSTDAG protocol, which enables parallel blocks to exist simultaneously, rendering the network more efficient and scalable. The project has already achieved 10 BPS on its testnet, setting a new benchmark for proof-of-work networks with faster transaction speeds. Kaspa is also actively developing smart contracts, which could expand its capabilities and attract a broader developer and user base.

Market data supports optimism about Kaspa’s future. The cryptocurrency has experienced remarkable growth, accumulating a market value over $4.2 billion, becoming the fifth-largest proof-of-work cryptocurrency in just three years.

As SURAJ_041 suggests, people still have a chance to “accumulate cheap KAS” before the market fully recognizes its potential value.

For those concerned about Grayscale’s decision, KaspaSilver suggests that community members can “apply pressure” by questioning the decision on Grayscale’s social media or contacting them directly.

However, the main message is clear: institutional recognition is just one part of cryptocurrency success, not the ultimate measure of a project’s value or potential.