Grayscale Expands Its MultiBillion-Dollar Investment Net To Include Solana And Uniswap

Grayscale Expands Its MultiBillion-Dollar Investment Net To Include Solana And Uniswap
Grayscale Expands Its MultiBillion-Dollar Investment Net To Include Solana And Uniswap

On Friday, the world’s leading digital currency asset manager, Grayscale Investments announced the updated fund component weightings for Grayscale Digital Large Cap Fund, under which Smart contract platform Solana and decentralized exchange Uniswap, its latest investment assets were unveiled.

The company further disclosed that the decision to add these assets to its portfolio was in line with its quarterly reviews and construction criteria. 

“In accordance with the Digital Large Cap Fund’s construction criteria, Grayscale has adjusted the Digital Large Cap Fund’s portfolio by selling certain amounts of the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase Solana (SOL) and Uniswap (UNI).” The announcement read.

With a 3.24% allocation in portfolio weighting, this is the first time Solana is being included in the Grayscale Investment portfolio, joining a list of other cryptocurrencies already held by the company, including Bitcoin (BTC) at 62.19%, Ethereum(ETH) at 26.08%, Uniswap (UNI) at 1.06%, Cardano (ADA), 5.11%, Litecoin (LTC) at 0.77% among others.

The company also revealed that save for the adjustments in the Digital Large Cap Fund, it had neither added nor remove any assets from its DeFi Fund. At press time, a list of ten assets including but not limited to Uniswap (UNI) at 45.20%, Aave (AAVE) at 14.11%, MakerDAO (MKR) at 7.84%, and SushiSwap (SUSHI) at 7.18% were still sitting in the fund.

Launched in February 2018 and with a cumulative $496.6 million in assets under management(AUM), the Grayscale Digital Large Cap Fund (GDLC) is a part of Grayscale’s Diversified investment products tailor-made to expose investors to large-cap cryptocurrency assets enabling them to make investments foregoing the challenges associated with buying, storing and safekeeping digital currencies directly.

To that end, investments through the fund are held as shares under the investors’ names making it easier to tax and transfer to beneficiaries under estate and succession laws. Further, they can be insured under the Insurance Regulatory Authority compliant firms or held in brokerage and other investor accounts.

With $10.4m in Assets Under Management, the Grayscale Decentralized Finance (DeFi) was unveiled in July 2021 to enable clients to invest in DeFi crypto assets. The fund holds digital assets that make up the DeFi Index. The index is comprised of the largest decentralized finance cryptocurrencies by market capitalization and is reviewed quarterly. 

Grayscale which now has over $41.5B AUM is determined to have shares of these new products listed in secondary markets despite protracted battles between crypto industry players and regulators such as the SEC, FINRA, and other regulatory bodies.