Grayscale adds SOL and UNI to Digital Large Cap Fund portfolio
Grayscale Investments now includes SOL and UNI tokens in its Grayscale Digital Large Cap Fund (GDLC) portfolio after rebalancing its basket of cryptocurrencies.
The quarterly rebalancing of the fund is done by selling existing components of the portfolio for cash and procuring well-performing crypto assets. Based on the adjustment, SOL and UNI make up 3.24% and 1.06% of the fund’s components, respectively, while Grayscale continues to cut down on Litecoin (LTC) and Bitcoin Cash (BCH) holdings.
After the previous quarterly rebalancing, Grayscale’s portfolio included 4.26% of Cardano’s ADA, making it the third-largest asset in the Digital Large Cap Fund. However, the latest adjustment means that ADA now represents 5.11% of the fund.
Bitcoin (BTC) and Ether (ETH) continue to own a lion’s share of the GDLC crypto basket at 62.19% and 26.08%, respectively. Chainlink’s LINK, Bitcoin Cash (BCH), and Litecoin (LTC) together represent 2.32% of the GDLC basket, which is down from 2.88% in July. Grayscale has not made quarterly adjustments to its DeFi Fund, which is currently dominated by UNI at 45.20% and AAVE at 14.11%.
The New-York based crypto asset manager’s products continue to gain mainstream attention, with financial giants such as Morgan Stanley more than doubling their investment on Grayscale’s single asset Grayscale Bitcoin Trust.
Morgan Stanley has invested in a total of 58,116 shares of Grayscale Bitcoin Trust as of July via its Europe Opportunity Fund, indicating a 105% increase in shares since April.
The firm’s move toward aggressive crypto investments follows a recent announcement from March 2021 aimed at providing investors exposure to Bitcoin.