Grayscale Research believes onchain vaults may break into traditional finance. Similar to collateralized loan obligations (CLOs), vaults pool capital into managed portfolios, but are fully onchain. Today, onchain vaults hold ~$7B in total value locked (TVL), a fraction of the ~$1.5 trillion CLO market. Read more on The Stack: https://www.grayscale.com/the-stack/onchain-vaults-the-next-evolution-in-managed-credit(Grayscale)