Grayscale rebalances its funds, removing 5 cryptos from its portfolio

    11 Jul 2022

    Grayscale, the world’s largest digital currency asset manager, has announced rebalancing its Fund Components for the second quarter of 2022. However, the organization revealed it removed some crypto tokens from its portfolio.

    According to the release, Grayscale mentioned that in accordance with the Large Cap Select Index methodology it has removed Bitcoin Cash, Chainlink, Litecoin, Polkadot, and Uniswap. This has been done in order to rebalance it.

    Currently, the Digital Large Cap Fund’s components stand as Bitcoin (BTC) 68.88%, Ethereum (ETH) 25.22%, Cardano (ADA) 2.71%, Solana (SOL) 2.23%, and Avalanche (AVAX), 0.96%.

    Assets under management of the fund stand at $201.3 million, the release said. However, it is trailing by 45.79% over the past 12 months. Meanwhile, it is still up by 26.8% since its inception.

    Meanwhile, Grayscale has jumped into a heavy tussle with the US Securities and Exchange Commission (SEC). The watchdog recently rejected Grayscale’s spot Bitcoin ETF proposal. However, the organization filed went to file the lawsuit on the same day.

    As reported before, Grayscale asked the court to review the SEC’s order in the filing. The firm earlier mentioned that they were already prepared to sue the authority in case of rejection.

    Also, the release revealed that the firm adjusted its DeFi Fund’s portfolio by selling the fund components. To rebalance the fund, they removed Yearn Finance (YFI) from the fund, with no new tokens added.

    The Fund components are as Uniswap (UNI) 56.35%, MakerDAO (MKR) 13.49%, Aave (AAVE) 12.44%, Curve DAO Token (CRV) 7.48%, Amp (AMP) 5.52% and Compound (COMP) 4.72%.

    Grayscale launched a DeFi Fund and Index in July 2021. Grayscale Investments and CoinDesk Indexes, a subsidiary of CoinDesk Inc., announced the launch of Grayscale Decentralized Finance Fund, a new diversified investment product, and the CoinDesk DeFi Index. The new fund joined a growing number of offerings to help investors easily bet on decentralized finance (DeFi).

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