Grayscale Investments has rebalanced its multi-asset cryptocurrency trusts in line with market conditions at the end of the second quarter.
Digital Large Cap Fund adjustment removes Bitcoin Cash, Chainlink, Litecoin from the fund , Polkadot and Uniswap.
As of July 7, the trust basket was:
- Bitcoin (BTC) — 68.88%;
- Ethereum (ETH) — 25.22% ;
- Cardano (ADA) – 2.71%;
- Solana (SOL) – 2.23%;
- Avalanche (AVAX) – 0.96 %.
The rebalancing of the DeFi Fund based on the CoinDesk DeFi Index benchmark resulted in the removal of Yearn Finance (YFI) from the fund. As of June 6, the basket of trust assets included:
- Uniswap (UNI) — 56.35%;
- MakerDAO (MKR) — 13.49%;
- Aave (AAVE) – 12.44%;
- Curve DAO Token (CRV) – 7.48%;
- Amp (AMP) – 5.52%;
- Compound (COMP) – 4.72%.< /li>
The company removed Stellar Lumens (XLM) from the Smart Contract Platform Ex-Ethereum Fund (GSCPxE) portfolio. As a result, the following remained in the trust:
- Cardano (ADA) – 1.69%;
- Solana (SOL) – 25.43%;
- Polkadot (DOT) – 13.90%;
- Avalanche (AVAX) – 10.87%;
- Polygon (MATIC) – 8.45%;
- Algorand (ALGO) – 4.37%.
< li>Cosmos (ATOM) – 5.29%;
Grayscale noted that no new tokens were added to any of the rebalanced investment instruments – the number of assets in them only decreased.
Bitcoin Trust (GBTC) with $13 in assets under management is still the most popular among investors Digital Large Cap Fund is $188M, DeFi Fund is $3.27M and GSCPxE is barely over $1.7M
Recall that Grayscale was counting on converting GBTC into a spot bitcoin ETF. In March, the company's CEO, Michael Sonnenschein, called it «priority number one» for the firm.
In late June, the US Securities and Exchange Commission rejected Grayscale's application to convert the trust into an ETF. As Sonnenschein promised earlier, the company initiated a lawsuit against the regulator.
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