Grayscale Adds Solana and Uniswap to the Digital Large Cap Fund

Grayscale Investments, the digital asset management firm, has added Solana (SOL) and the native token of the decentralized exchange Uniswap (UNI) to the Digital Large Cap Fund trust.

We just announced the updated fund component weightings for Grayscale Digital Large Cap Fund, which now includes #Solana ($SOL) and #Uniswap ($UNI). This is the first time SOL will be included in a Grayscale investment vehicle. Read this thread for more. (1/5)

— Grayscale (@Grayscale) October 1, 2021

«In line with the structural criteria, we adjusted the Grayscale Digital Large Cap Fund portfolio by selling a certain number of existing components in proportion to their respective weightings, and used the proceeds to buy Solana and Uniswap,» the announcement said.

As of October 1, the Digital Large Cap Fund was valued at $494.6 million. Its basket includes the following digital assets: 

• Bitcoin (62.19%);
• Ethereum (26.08%);
• Cardano (5.11%);
• Solana (3.24%);
• Uniswap (1.06%);
• Chainlink (0.82%);
• Litecoin (0.77%);
• Bitcoin Cash (0.73%).

The total assets under management across Grayscale Investments stood at $41.5 billion. The largest fund is Bitcoin Trust — its AUM reached $29.96 billion.

UNI is also a component of Grayscale DeFi Fund — it accounts for nearly half (45.2%) of the fund’s holdings.

The firm is using Solana for the first time as an investment instrument. In September, the project’s total value locked rose by 185%. Earlier in the month the cryptocurrency overtook Dogecoin and Polkadot by market capitalization. The ecosystem’s success is attributed to the rapid growth of NFT-activity and DeFi services.

In July, as part of a rebalance, Grayscale Investments added Cardano as a component of Digital Large Cap Fund.

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