Grayscale Investments, which runs Grayscale DeFi Fund and Grayscale Digital Large Cap Fund, announced in a release on Tuesday the updated Fund Component weightings for each product in connection with their respective quarterly reviews.
- New York-based Grayscale is owned by Digital Currency Group, the parent company of CoinDesk.
- Grayscale adjusted the DeFi 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 Amp (AMP). As a result of the rebalancing, Bancor (BNT) and Universal Market Access (UMA) have been removed from the CoinDesk DeFi Index and the DeFi Fund.
- AMP is the native token of the Flexa network, a payment network which enables crypto-collateralized payments at physical stores and online.
- Flexa uses the AMP token to collateralize digital asset payments while they are confirmed on their respective blockchains and settles the payments in fiat to the recipient.
- By enabling payments through the Flexa network, supporting merchants can more easily and trustlessly accept payment in BTC, ETH, and other digital assets. The Flexa network is one of a number of projects intended to accelerate the development of the blockchain into a mature peer-to-peer money system, according to Grayscale.
DeFi Fund’s Components as of Jan. 3
At the end of the day on Jan. 3, 2022, the DeFi Fund’s Fund Components were a basket of the following assets and weightings.
- Uniswap (UNI), 42.33%
- Aave (AAVE), 13.06%
- Curve (CRV), 10.63%
- MakerDAO (MKR), 8.99%
- Amp (AMP), 7.39%
- Yearn Finance (YFI), 6.34%
- Compound (COMP), 5.02%
- Synthetix (SNX), 3.15%
- SushiSwap (SUSHI), 3.09%
- AMP is the native token of the Flexa network, a payment network which enables crypto-collateralized payments at physical stores and online. Flexa uses the AMP token to collateralize digital asset payments while they are confirmed on their respective blockchains and settles the payments in fiat to the recipient. By enabling payments through the Flexa network, supporting merchants can more easily and trustlessly accept payment in BTC, ETH, and other digital assets. The Flexa network is one of a number of projects intended to accelerate the development of the blockchain into a mature peer-to-peer money system.
- At the end of the day on January 3, 2022, the DeFi Fund’s Fund Components were a basket of the following assets and weightings.
- Uniswap (UNI), 42.33%
- Aave (AAVE), 13.06%
- Curve (CRV), 10.63%
- MakerDAO (MKR), 8.99%
- Amp (AMP), 7.39%
- Yearn Finance (YFI), 6.34%
- Compound (COMP), 5.02%
- Synthetix (SNX), 3.15%
- SushiSwap (SUSHI), 3.09%
No new tokens were added or removed from Grayscale Digital Large Cap Fund. This announcement follows the October 2021 news that Grayscale adjusted the Digital Large Cap Fund’s portfolio and added Solana (SOL) and Uniswap (UNI). At the end of the day on January 3, 2022, the Digital Large Cap Fund’s Fund Components were a basket of the following assets and weightings.
- Bitcoin (BTC), 60.50%
- Ethereum (ETH), 30.13%
- Solana (SOL), 3.56%
- Cardano (ADA), 3.05%
- Uniswap (UNI), 0.77%
- Chainlink (LINK), 0.71%
- Litecoin (LTC), 0.69%
- Bitcoin Cash (BCH), 0.59%
Neither the DeFi Fund nor the Digital Large Cap Fund generates any income, and both regularly distribute Fund Components to pay for ongoing expenses. Therefore, the amount of Fund Components represented by shares of each fund gradually decreases over time.
