Grayscale adds Solana and Uniswap to Digital Large Cap Fund
The latest adjustment sees SOL added to a Grayscale investment product for the first time, with UNI already a part of the DeFi Fund
Grayscale, the world's largest digital asset manager, has added Solana (SOL) and Uniswap (UNI) to its major investment vehicle, the Digital Large Cap Fund.
To accommodate the two crypto assets into the Digital Large Cap Fund's portfolio, Grayscale sold "certain amounts of the existing Fund Components" and used the money to buy Solana and Uniswap.
In July, Grayscale added Cardano (ADA) to the Large Cap Fund, adjusting the weightings of the portfolio that remains dominated by Bitcoin.
Solana makes up 3.24% of Fund
With SOL and UNI forming part of the Digital Large Cap Fund, the basket of supported crypto assets held eight cryptocurrencies as of Friday's market close. Bitcoin still represented the largest weighting with 62.19%, while Ethereum (ETH) accounted for 26.08% and Cardano (ADA) for 5.11%.
Solana (SOL), which has been added to a Grayscale investment vehicle for the first time, accounted for 3.24% and is the fourth largest. Meanwhile, Uniswap (UNI) held 1.06% of the portfolio, with Chainlink (LINK) at 0.82%, Litecoin (LTC) at 0.77% and Bitcoin Cash (BCH) at 0.73% completing the portfolio.
The price of Solana has increased about 25% over the past week, with the SOL/USD pair trading near $170 on Monday morning. Uniswap's UNI is up about 7% over the same period to trade around $25.
Quarterly review
The adjustment to the flagship fund follows the investment manager's quarterly rebalancing of the assets in the fund, the company said in a press release.
The Digital Large Cap Fund allows investors to benefit from gains from the leading digital assets via a single investment product. Investors do not have to worry about exposure to actual cryptocurrencies.
While the components of the portfolio are reviewed quarterly, each asset's weighting can vary from day to day. Grayscale publishes the weightings at the end of each trading session.
The post Grayscale adds Solana and Uniswap to Digital Large Cap Fund appeared first on Coin Journal.
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Benson Toti, Khareem Sudlow