Grayscale Includes Solana & Uniswap in Digital Large Cap Fund
Grayscale Investments, a crypto asset management headquartered in New York, has added Solana’s SOL and Uniswap’s UNI tokens to its Grayscale Digital Large Cap Fund (GDLC) portfolio after revising its cryptocurrency basket. The quarterly adjustment of GDLC is accomplished by selling current portfolio constituents for cash and purchasing high-performing cryptocurrencies.
According to the changes, SOL and UNI now account for 3.24% and 1.06% of the fund’s constituents, respectively, while Grayscale keeps reducing its holdings in Litecoin (LTC) and Bitcoin Cash (BCH). Grayscale’s portfolio contained 4.26% of Cardano’s ADA at the last quarterly adjustment, placing it the Digital Large Cap Fund’s third-largest holding.
Nevertheless, the most recent revision implies that ADA currently accounts for 5.11 percent of the fund. Bitcoin (BTC) and Ether (ETH) continue to dominate the GDLC cryptocurrency basket, accounting for 62.19% and 26.08%, respectively.
Chainlink’s LINK token, Bitcoin Cash, and Litecoin account for 2.32% of the GDLC basket, a drop from 2.88% in July. Grayscale has not implemented any quarterly changes to its DeFi Fund, which is presently led by UNI (45.20%) and AAVE (14.11%).
Grayscale’s offerings continue to acquire mainstream traction, with financial behemoths like Morgan Stanley more than tripling their stake in Grayscale’s sole asset, the Grayscale Bitcoin Trust. Importantly, Morgan Stanley has acquired 58,116 shares of Grayscale Bitcoin Trust via its Europe Opportunity Fund as of July, representing a 105% rise in shares since April.
The company’s shift toward robust cryptocurrency investing follows a March 2021 statement intended at giving investors with access to Bitcoin.