Bitcoin and altcoin projects markets are consolidating well below their all-time highs. Meanwhile, investment giant Grayscale has updated the assets on its smart contract platform. Grayscale’s platform already had popular assets like Cardano, Polkadot, Solana. However, the investment giant changed the rates in its funds. Here are the details…
Grayscale’s backdrop includes Cardano, SOL, DOT
Grayscale said in a new report that the GSCPxE Fund has allocated funds to Cardano (ADA), Solana (SOL), Polkadot (DOT) and several other Ethereum (ETH) competitors. In a recent blog post, he explained the fund components and asset weights of the GSCPxE Fund as follows:
- Cardano (ADA), 31.69 percent
- Solana (LEFT), 25.43%
- Polkadot (DOT), 13.90 percent
- Avalanche (AVAX), 10.87 percent
- Polygon (MATIC), 8.45 percent
- Cosmos (ATOM), 5.29 percent
- Algorand (ALGO), 4.37 percent
What’s in Grayscale’s DeFi backdrop?
Grayscale states that as a result of the rebalancing, the payments-focused altcoin Stellar (XLM) has been removed from the fund. The firm, which currently owns the world’s largest Bitcoin fund, reported that it has also mixed decentralized finance (DeFi) assets. Grayscale says the largest DeFi holding is now Uniswap (UNI), an Ethereum-based decentralized exchange. Grayscale’s DeFi fund consists of the following assets:
- Uniswap (UNI), 56.35%
- MakerDAO (MKR), 13.49 percent
- Aave (AAVE), 12.44 percent
- Curve DAO Token (CRV), 7.48 percent
- Ampleforth (AMP), 5.52 percent
- Compound (COMP), 4.72 percent
Five tokens were removed from the Digital Large Cap Fund
The cryptocurrency titan announced that it has removed five tokens from its Digital Large Cap Fund. The Digital Large Cap Fund marks the cryptocurrencies with the largest market cap. Grayscale used the following statements:
Grayscale has adjusted its Digital Large Cap Fund portfolio by selling certain quantities of existing Fund Components in proportion to their respective weights. As a result of the rebalancing, Bitcoin Cash, Chainlink, Litecoin, Polkadot, and Uniswap were removed from the Digital Large Cap Fund. No new tokens have been added to the Digital Large Cap Fund.
As of July 7, 2022, the fund components of the Digital Large Cap Fund were a basket of the following assets and weights:
- Bitcoin (BTC), 68.88 percent
- Ethereum (ETH), 25.22 percent
- Cardano (ADA), 2.71 percent
- Solana (LEFT), 2.23 percent
- Avalanche (AVAX), 0.96 percent
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