🧠 Grayscale Just Dropped Its Q3 2025 Token Watchlist. The latest "Assets Under Consideration" list is out — and it’s leaner, sharper, and signals a shift in narrative focus.

🔍 From 40 tokens last quarter to just 31 this time, Grayscale has narrowed the field.

• $BONK joins the list — meme culture gets institutional nods
• Hyperliquid appears — signaling growing interest in alt-L1s & perpetuals
• A new AI category debuts — reflecting momentum behind intelligent infrastructure

This quarterly update is a glimpse into what institutional crypto appetite might look like in the months ahead.