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Saturday, August 13, 2022

Grayscale Has Rebalanced The DeFi Fund

Grayscale Investments, a major manager of crypto assets, has gone ahead and rebalanced its DeFi Fund while adjusting the weights of its Digital Large Cap Fund. An announcement on the 3rd of January went on to detail the changes that this asset manager made to its two funds. The weightings of the DeFi Fund have already been rebalanced with the AMP, which is the native collateral token of the payment of the Flexa network being added to the interface, while the tokens of Universal Market Access and Bancor have already been taken out. 

Grayscale Investments Balancing the DeFi Sector

According to Grayscale, Flexa uses the token of AMP to collateralize most of its crypto payments, and after which it settles them in fiat currencies for the recipients to accept crypto easily through enabling merchants. The asset manager, as a result, had to reshuffle weightings but did not go around changing the token list of the Digital Large Cap Fund. 

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The current DeFi fund of Grayscale consists of nine different assets of crypto from the ecosystem of DeFi. Uniswap currently has the highest weighting in the fund with 42.33%, while the recently included AMP comprises around 7.39%. The changes made to the fund did reflect those that were made to the DeFi Index of CoinDesk. Currently, the DeFi fund has a share price set at $5.56, which is a gain of 11.2% since its inception on the 14th of July. 

Grayscale has been known mostly due to their Bitcoin Trust which currency has around $30.1 billion assets under management. Shares are trading at a price of $34.27, which is an increase of 23% since the 14th of July, and up by 59.16% over the last 12 months. Both the Bitcoin Trust and DeFi fund have gone ahead and outperformed the DeFi Pulse Index since the 14th of July.

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