The world’s largest digital asset manager, Grayscale Investment, with more than $41.5 billion in assets under management, has made adjustments to its Digital Large Cap Fund’s portfolio by selling some assets and then using the proceeds to add new cryptos.
This week, Grayscale reported that it had added Solana (SOL) for the first time and Uniswap (UNI) to the Fund.
Faster and cheaper Ethereum competitor Solana has been becoming a favorite among institutional investors. As we reported, Solana investment products have been seeing “outsized inflows,” recording $88 million in total AUM as of Sept. 24. $83 million of these flows were seen this year alone and more than $60 million just last month, according to CoinShares Data.
Being a darling of institutions during the month of September, thanks to Solana Summer that saw SOL’s YTD returns at 90x, now has Grayscale also adding the crypto asset to its fund.
The Large Cap Fund enables investors to gain exposure to a market-cap weighted portfolio of digital currencies with the largest capitalization through a singular investment vehicle without the challenges of buying and storing the crypto assets directly.
With the latest additions, Grayscale’s Digital Large Cap Fund now involves Bitcoin (BTC) having a weightage of 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%, and Bitcoin Cash (BCH) 0.73%.
Unlike the Digital Large Cap Fund, no changes have been made to the firm’s DeFi Fund, which is still dominated by Uniswap at 45.20%, followed by Aave (AAVE) 14.11%, MakerDAO (MKR) 7.84%, SushiSwap (SUSHI) 7.18%, Compound (COMP) 6.73%, Synthetix (SNX), 6.29%, Yearn Finance (YFI) 3.92%, Curve (CRV) 3.53%, Bancor Network Token (BNT) 3.04%, and UMA Protocol (UMA) 2.16%, as of October 1, 2021.