Grayscale adjusts the composition of several crypto funds

Grayscale Investments провела a rebalance of its crypto trusts across several assets in line with market conditions at the end of the second quarter.

As a result of the adjustment, Digital Large Cap Fund removed Bitcoin Cash, Chainlink, Litecoin, Polkadot and Uniswap from the fund.

As of July 7, the trust’s basket consisted of:

• Bitcoin (BTC) — 68.88%;
• Ethereum (ETH) — 25.22%;
• Cardano (ADA) — 2.71%;
• Solana (SOL) — 2.23%;
• Avalanche (AVAX) — 0.96%.

The DeFi Fund’s rebalancing against the CoinDesk DeFi Index benchmark led to the removal of Yearn Finance (YFI). As of June 6, the trust’s asset basket included:

• Uniswap (UNI) — 56.35%;
• MakerDAO (MKR) — 13.49%;
• Aave (AAVE) — 12.44%;
• Curve DAO Token (CRV) — 7.48%;
• Amp (AMP) — 5.52%;
• Compound (COMP) — 4.72%.

From the Smart Contract Platform Ex-Ethereum Fund (GSCPxE), the company removed Stellar Lumens (XLM). As a result, the trust’s composition is now:

• Cardano (ADA) — 1.69%;
• Solana (SOL) — 25.43%;
• Polkadot (DOT) — 13.90%;
• Avalanche (AVAX) — 10.87%;
• Polygon (MATIC) — 8.45%;
• Cosmos (ATOM) — 5.29%;
• Algorand (ALGO) — 4.37%.

Grayscale noted that none of the rebalanced investment vehicles added new tokens; the number of assets in them has only decreased.

The Bitcoin Trust (GBTC) remains the most popular, with assets under management of about $13 billion. The Digital Large Cap Fund stands at $188 million, the DeFi Fund at $3.27 million, and GSCPxE at just over $1.7 million.

Here’s a look at our investment funds as of 7/6/2022.
AUM and other stats on all Grayscale products are updated daily on our website: https://t.co/7aUMxyc3Hu$BAT $BCH $BTC $ETC $ETH $FIL $LINK $LPT $LTC $MANA $SOL $XLM $ZEC $ZEN pic.twitter.com/jic18TOgJg

— Grayscale (@Grayscale) July 6, 2022

Grayscale had been counting on converting GBTC into a spot Bitcoin-ETF.

In March, Grayscale CEO Michael Sonnenshein called this “the number one priority” for the firm.

In late June, the U.S. Securities and Exchange Commission rejected Grayscale’s application to convert the trust into an ETF. had previously promised, the company initiated a lawsuit against the regulator.

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