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Grayscale rebalances DeFi Fund by adding AMP

Grayscale Ethereum Trust Files with The SEC to Receive Reporting Status
Grayscale Ethereum Trust Files with The SEC to Receive Reporting Status

The world’s largest digital asset management firm, Grayscale, has announced it is rebalancing its DeFi fund and the adjusted weightings of the Digital Large Cap Fund.

An announcement issued by the platform on January 3 noted the changes that Grayscale would be making to the two funds.

Grayscale rebalances two funds

The announcement noted that Grayscale was rebalancing the weightings for the DeFi Fund with the AMP token. AMP is the native token for the Flexa payment network. Additionally, it has removed Bancor (BNT) and Universal Market Access (UMA).

Flexa integrates the AMP token as collateral for payments made through the network. The payments are later settled in fiat currencies allowing merchants on the network to receive crypto payments easily and securely.

The digital asset management firm reshuffled the weightings, and it did not change the token list for the Grayscale Digital Large Cap Fund (GDLC). The DeFi fund will now comprise nine different cryptocurrencies in the DeFi sector.

The fund will now have Uniswap (UNI) taking the largest weighting at 42.33%, while AMP will take 7.39%. The changes that have been made to this fund are similar to the changes made to the Coindesk DeFi Index (DFX).

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The Grayscale DeFi Fund currently has a share price of $5.56, reflecting an 11.2% increase since its inception on July 14. The share price for this fund is $5. The total assets under management (AUM) for this fund are $11.6 million, while the shares outstanding are 2.08 million.

Grayscale’s Bitcoin Trust is still taking the lead

The Grayscale Bitcoin Trust is still taking the lead. The total assets under management for this fund stand at $30.1 billion. The shares for this trust are trading at $34.27, a 23% increase since July 14 and an almost 60% increase over the past year.

The Bitcoin Trust and the DeFi Fund are the two best-performing funds on Grayscale. The two have outperformed the DeFi Pulse Index (DPI), the largest retail DeFi index by market capitalization since July 14. The DPI has high trading volumes, and it has dropped by 2% within the same period.

Additionally, Grayscale recorded the highest increase in Bitcoin holdings among spot Bitcoin ETFs and corporations in 2021. Currently, the company accounts for 71% of the market share for spot ETFs and Bitcoin holdings among corporations.

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