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Grayscale Investments – the company notable for managing cryptocurrency investment funds – did a bit of an update on their Fund Component weightings for every product that is related to their respective quarterly analysis. Also, the firm revealed that they’ve just included Uniswap and Solana’s UNI and SOL tokens in its large-cap crypto fund.
Uniswap and Solana in Grayscale
Grayscale’s update was made known on Friday as it was stated that the firm has made some adjustments on the Digital Large Cap Fund’s portfolio by selling existing Fund Components of the portfolio and then utilizing the cash proceeds to buy both Uniswap and Solana.
This is said to follow the adjustment Grayscale did back in July in its Large Cap Fund portfolio and later on bought Cardano (ADA). This made the said crypto to become the third biggest asset within the fund. As for Solana, this will be the digital asset’s first time to be a part of the investment manager’s vehicle.
On October 1, Grayscale’s Digital Large Cap Fund was composed of the following digital assets alongside its weightings: Bitcoin (BTC) 62.19%, Ethereum (ETH) 26.08%, Cardano (ADA) 5.11%, Solana (SOL) 3.24%, Uniswap (UNI) 1.06%, Chainlink (LINK) 0.82%, Litecoin (LTC) 0.77% Bitcoin Cash (BCH) 0.73%. The granddaddy of tokens, that is bitcoin, takes a huge chunk of the GDLC crypto basket.
As for the DeFi Fund’s basket, Grayscale reported that no new tokens were added or removed from it. At the then of October 1, Uniswap topped the roster of digital assets in this category with 45.2% and followed Aave (AAVE) with 14.11%.
Grayscale popularity
With that in mind, products under Grayscale continue to gain traction with the cryptocurrency community. Well-established financial institutions like Morgan Stanley are said to have doubled their investment in the managing firm’s Grayscale Bitcoin Trust.
As of July 2021, Morgan Stanley has already invested a total of 58,116 shares of this Grayscale Bitcoin Trust through its Europe Opportunity Fund. This is indicative of a surge in shares by up to 105% since April 2021.
Grayscale making it clear
Reports also stated that Grayscale resorting to an aggressive approach in investing in cryptocurrencies follows an announcement back in March 2021 as the firm zeroed in giving investors exposure to bitcoin.
Grayscale pointed out, however, that neither their Large Cap Fund nor DeFi Fund produces any income adding both give out Fund Components regularly to for ongoing expenditures. Hence, the amount of Fund Components that are being represented by shares of every fund decreases gradually as time progresses.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
