Grayscale Investments, one of the largest digital asset investment firms with $41.5 billion Assets Under Management (AUM), announced that it has added Solana’s SOL and Uniswap’s UNI tokens to its Grayscale Digital Large Cap Fund (GDLC) portfolio after its quarterly rebalancing of funds.
Grayscale’s quarterly rebalancing is done by selling existing components of the portfolio for cash and procuring well-performing crypto assets. Based on this quarters adjustments, SOL and UNI make up 3.24% and 1.06% of the fund’s components respectively. Also, to note, we see that Grayscale continues to cut down on Litecoin (LTC) and Bitcoin Cash (BCH) holdings.
The previous quarterly rebalancing saw Grayscale add Cardano’s ADA to its portfolio which represented 4.26% of the portfolio, making it the third-largest asset in the Digital Large Cap Fund. The latest adjustment puts ADA’s weight at 5.11% of the fund.
The Grayscale Digital Large Cap Fund Overview
From the publication, we can see that Bitcoin (BTC) and Ether (ETH) continue to account for a lion’s share of the fund, representing 62.19% and 26.08%, respectively. Chainlink’s LINK token represents 0.82%, Bitcoin Cash represents 0.73% and Litecoin represents 0.77% of the fund.
Grayscale also released details of its DeFi Fund and from the data, no adjustments have been made to the fund. The fund is majorly dominated by UNI and AAVE which represents 45.20% and 14.11% respectively, accounting for the lion share.
Grayscale ended the publication stating, “Neither the Grayscale Digital Large Cap Fund nor the Grayscale DeFi Fund generate any income, and both regularly distribute Fund Components to pay for ongoing expenses. Therefore, the amount of Fund Components represented by shares of each fund gradually decreases over time.”
Grayscale’s products continue to gain mainstream attention. It has gotten the attention of financial giants such as Morgan Stanley as they have more than doubled their investment in Grayscale’s single asset Grayscale Bitcoin Trust (GBTC). Morgan Stanley has invested in a total of 58,116 shares of Grayscale Bitcoin Trust as of July via its Europe Opportunity Fund, indicating a 105% increase in shares since April. The firm’s move toward aggressive crypto investments follows a recent announcement from March 2021 aimed at providing investors exposure to Bitcoin.
Grayscale’s biggest OTC fund, the GBTC is currently trading at $37.19. Year-to-Date, the fund is up over 6% as of the time of this writing.