Grayscale Investments has set sail into the decentralized finance space, with the launch of its DeFi fund, this is apparently its debut in the increasing world of DeFi.
Grayscale, the world’s largest crypto asset manager, is expanding its crypto product offering with the launch of its new Defi Fund, which is the firm’s first of its kind.
The crypto asset management is well-known for its investment funds in Bitcoin and other altcoins, but this would be their first foray into the thriving DeFi industry.
The Grayscale Defi Fund would be the company’s second diversified fund product. The new fund would be based on the Coindex Defi Index, which includes
- Uniswap (UNI), 49.95%
- Aave (AAVE), 10.25%
- Compound (COMP), 8.38%
- Curve (CRV), 7.44%
- MakerDAO (MKR), 6.49%
- SushiSwap (SUSHI), 4.83%
- Synthetix (SNX), 4.43%
- Yearn Finance (YFI), 3.31%
- UMA Protocol (UMA), 2.93%
- Bancor Network Token (BNT), 2.00%
Accredited investors can gain exposure to the major Defi market through this vehicle. Eligible investors can subscribe to the funds on a daily basis.
The funds’ shares would be listed on a secondary market. Grayscale will produce its sixteenth overall investment product.
According to Grayscale Investments CEO Michael Sonnenshein,
“Grayscale continues to focus on creating opportunities for investors to access new, exciting parts of the digital asset ecosystem. The emergence of decentralized finance protocols provide clear examples of technologies that can redefine the future of the financial services industry.
We’re proud to offer investors exposure to DeFi through Grayscale’s trusted, secure, and industry-leading investment product structures.”