Grayscale Investments, billion dollar investment firm, just added some big names to its coffers.  Covered: Grayscale Adds Three Interoperability-Focused Protocols Removes Two Smaller Projects Grayscale Adds Three Interoperability-Focused Protocols Grayscale Investments is adding three crypto assets to its three diversified funds and removing another two from the product. Avalanche (AVAX), Polkadot (DOT), Cosmos (ATOM) were […] The post Grayscale Adds Three Protocols; Removes Two Others appeared first on CryptosRus.

Grayscale Adds Three Protocols; Removes Two Others

Grayscale Investments, billion dollar investment firm, just added some big names to its coffers. 

Covered:

  • Grayscale Adds Three Interoperability-Focused Protocols
  • Removes Two Smaller Projects

Grayscale Adds Three Interoperability-Focused Protocols

Grayscale Investments, the New York-based billion-dollar crypto asset firm, announced several portfolio moves today. Most notably, Grayscale adjusted their weightings — in other words, took profits — and added three tokens to their Digital Large Cap Fund.

The two additions are smart contract protocols Polkadot and Avalanche. They join a long list that includes heavyweights like Bitcoin and Ethereum, as well as upstarts like Cardano, Solana, and Uniswap.

Below is the current weighting of their Digital Large Cap Fund, as of April 5th 2022.

Grayscale also added Cosmos (ticker symbol ATOM) to their Smart Contract Fund. Cosmos, like Polkadot and Avalanche, is known for interoperability.

Grayscale Removes Two Smaller Projects

As part of its reshuffling, two projects got shuffled out entirely from Grayscale’s large digital asset war chest: DeFi project Sushi Swap and crypto derivative liquidity protocol Synthetix.

SushiSwap has been hit hard since reaching its all-time high of $23 USD in March of 2021. The multichain DeFi swap is currently trading in the $3.60 range. Being removed from the fund doesn’t bode well for Sushi, which finds itself in a crowded DeFi market. Though, not everyone is jumping ship.

Synthetix, on the other hand, faces other issues beyond conventional market forces. It specializes in creating derivatives (or offshoots in other words) of securities so users can trade them on-chain. Unsurprisingly, the SEC isn’t fond of this practice.

Synthetix is currently trading in the $3.38 range.

Recommended: Grayscale Could Sue The SEC If Its Bitcoin Spot ETF Is Denied

The post Grayscale Adds Three Protocols; Removes Two Others appeared first on CryptosRus.