Grayscale rebalances DeFi Fund dropping Balancer (BAL) and UMA

Published at: Jan. 4, 2022

Crypto asset manager Grayscale Investments has rebalanced its Grayscale DeFi Fund and adjusted weightings of its Digital Large Cap Fund.

A Jan. 3 announcement detailed the changes Grayscale made to its two funds. The DeFi Fund’s weightings have been rebalanced with AMP, the native collateral token of the Flexa payment network being added, while Bancor’s (BNT) and Universal Market Access (UMA) have been removed.

Flexa uses the AMP token to collateralize crypto payments and settles them in fiat to recipients enabling merchants to accept crypto easily.

Grayscale reshuffled weightings but did not change the token list of The Grayscale Digital Large Cap Fund (GDLC).

We have just announced updated component weightings for Grayscale #DeFi Fund, which now includes $AMP. This is the first time AMP will be included in a Grayscale investment vehicle. Read this thread for more: pic.twitter.com/jfKAih24cS

— Grayscale (@Grayscale) January 3, 2022

Grayscale’s DeFi Fund now consists of nine different crypto assets from the DeFi ecosystem. Uniswap (UNI) has the highest weighting in the fund with 42.33%, while the newly added AMP comprises 7.39%. The changes to the fund reflect those made to the CoinDesk’s DeFi Index (DFX).

At the time of writing, the Grayscale DeFi Fund has a share price of $5.56, which is an 11.2% gain since its July 14 inception share price of $5. The fund has $11.6 million assets under management and 2.08 million shares outstanding.

Grayscale is best known for its Grayscale Bitcoin Trust which currently has $30.1 billion assets under management. Shares are trading at $34.27, up 23% since July 14, and up 59.16% over the past 12 months.

Both the Grayscale DeFi Fund and its Bitcoin Trust have outperformed the DeFi Pulse Index (DPI), the largest retail DeFi index by market cap, since July 14. Although DPI has a higher trading volume, it has fallen by 2% over the same period.

Related: Grayscale finds that over 25% of US households surveyed currently own Bitcoin

Grayscale had the highest increase in Bitcoin (BTC) holdings among spot Bitcoin ETFs and corporations through 2021 by accruing 645,199 BTC by the end of the year, which accounts for 71% of the spot ETF and corporate markets BTC holdings.

Tags
Defi
Grayscale
Related Posts
Grayscale sets sights on institutional DeFi fund
Michael Sonnenshein, CEO of digital asset management giant Grayscale, has announced a new investment vehicle for the firm targeted at decentralized finance (DeFi) assets. Sonnenshein announced Grayscale’s planned DeFi Fund and index during an appearance on CNBC’s Squawk Box. Detailing the purpose of the new product, the Grayscale CEO said the fund would offer exposure to DeFi assets, such as Uniswap (UNI) and Aave, for its institutional clients. According to the Grayscale chief, the decision to create a DeFi fund, the firm’s 15th crypto investment product, was due to the growing interest in popular crypto assets in the decentralized finance …
Altcoin / July 19, 2021
Bitcoin average transaction value increases 500% since July
The average value of Bitcoin (BTC) transactions has increased dramatically since July this year. The average transaction value was sitting at approximately $25,000 per transaction four months ago, but posted a yearly high on Oct. 20 at $151,000 per transfer — representing an increase of more than 500%. The latest spike, as shown by crypto analytics platform BitInfoCharts’ data, saw the average value of a transaction increase almost $50,000, up from $105,000, in the last 48 hours. This surge in transaction value comes shortly after Bitcoin’s trading dominance rose to levels not seen since 2017. The $151,000 average value is …
Bitcoin / Oct. 21, 2020
DeFi mainstays headline Grayscale’s list of new products under consideration
Want to buy decentralized finance exposure from your stockbroker? Grayscale may be on the cusp of making it a reality. In a press release today, the issuer of popular exchange-traded products such as Bitcoin (BTC)-backed Grayscale Bitcoin Trust announced a list of new assets under consideration — and over a third, or 8 of 23, come from Ethereum’s DeFi ecosystem. Aave, Compound's COMP, MakerDAO's MKR, Reserve Rights (RSR), SushiSwap's SUSHI, Synthetix Network Token (SNX), Uniswap's UNI and Yearn.finance's YFI joined increasingly popular layer-one chain assets such as Polkadot's DOT, Cosmos' ATOM and Cardano's ADA on the list — a sign …
Business / Feb. 26, 2021
Five Signs That Ethereum Is Having Its Moment Right Now
Ether (ETH) has more than doubled in value so far this year, with strong fundamentals and increasing numbers of projects being built on the network. Here are five signs from this week that Ethereum’s time may have finally come. Institutional investors are now paying a 220% premium Accredited investors are currently paying a 220% premium to buy Ether through Grayscale's Ethereum Trust. The price of a single share in the Ethereum Trust is currently trading for $81.50 even though one share represents Ether worth just $25.46. Yesterday the premium was even higher, at 312%. The Grayscale Ethereum Trust has $154.5 …
Ethereum / Feb. 14, 2020
Ethereum is like the best and worst parts of New York: Grayscale
Digital asset manager Grayscale has published a report on smart contract platforms in which it likens the Ethereum (ETH) blockchain to the best and worst parts of New York City. The report examines the granddaddy smart contract network Ethereum in comparison to newer competing blockchains such as Solana (SOL), Avalanche (AVAX), Polkadot (DOT), Cardano (ADA) and Stellar (XLM). The report comes in the wake of the firm launching a crypto fund dedicated to smart contract platforms excluding Ethereum. In a section titled “digital cities,” Grayscale analyzed Ethereum, Avalanche and Solana. The firm compared Ethereum to the Big Apple, noting that …
Blockchain / March 31, 2022