Grayscale Investments, a crypto asset management, has rebalanced its Grayscale DeFi Fund and tweaked the weightings of its Digital Large Cap Fund while adding new funds such as the AMP, other funds such as BNT and UMA were removed.
The improvements Grayscale made to its two funds were described in a Jan. 3 release. The DeFi Fund’s weightings have been rebalanced, with AMP, the Flexa payment network’s native collateral token added while Bancor’s (BNT) and Universal Market Access (UMA) removed.
Flexa employs the AMP token to collateralize cryptocurrency payments and settles them in fiat with recipients, making it simple for retailers to accept cryptocurrency.
The Grayscale Digital Large Cap Fund’s weightings were reshuffled, but the token list remained unchanged (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 DeFi Fund
Grayscale’s DeFi Fund currently includes nine different DeFi ecosystem crypto assets. The fund’s largest holding, Uniswap (UNI), has a weight of 42.33 percent, while the newly added AMP has a weighting of 7.39 percent. The fund’s modifications correspond to those made to CoinDesk’s DeFi Index (DFX).
The Grayscale DeFi Fund has a share price of $5.56 at the time of writing, up 11.2 percent from its inaugural share price of $5 on July 14. The fund manages $11.6 million in assets and has 2.08 million outstanding shares.
Grayscale is most well-known for its Grayscale Bitcoin Trust, which manages $30.1 billion in assets. The stock is currently priced at $34.27, up 23 percent since July 14 and 59.16 percent in the last year.
Since July 14, both the Grayscale DeFi Fund and its Bitcoin Trust have outperformed the DeFi Pulse Index (DPI), the most valuable retail DeFi index by market cap. Despite having a bigger trading volume, DPI has dropped by 2% over the same time period.
Grayscale had the most rise in Bitcoin (BTC) holdings among spot Bitcoin ETFs and businesses through 2021, with 645,199 BTC at the end of the year, accounting for 71 percent of spot ETF and corporate markets BTC holdings.
