Grayscale adds Solana and Uniswap to its Digital Investment Portfolio
Grayscale Investments, a New York-based cryptocurrency asset manager, has now added Solana and Uniswap in its Grayscale Digital Large Cap Fund (GDLC) portfolio after rebalancing and re-evaluating its cryptocurrency holdings.
The quarterly rebalancing of GDLC is done by selling some of the existing components of the cash portfolio and by procuring some of the biggest performing cryptocurrency assets. Based on the adjustment, SOL and UNI represent 3.24% and 1.06% of the fund’s components, respectively, while Grayscale continues to reduce holdings in Litecoin (LTC) and Bitcoin Cash (BCH).
This just goes on to show how interested Grayscale is in bringing cryptocurrency assets to the New York investment world, in order to provide a really diversified portfolio that truly has the biggest chances of getting the most return on investment. It’s without a doubt a huge step for the company, leaping into the crypto world even further, and at the same time, it is most likely a very good decision that will take GDLC’s earnings to the next level.
After the previous quarterly rebalancing, Grayscale’s portfolio included 4.26% of Cardano’s ADA, becoming the third-largest asset in the Digital Large Cap Fund. However, given the most recent adjustment, it assumes that the ADA now accounts for 5.11% of the fund.
Bitcoin (BTC) and Ethereum (ETH) continue to occupy the first positions in GDLC crypto holdings with 62.19% and 26.08%, respectively. Chainlink, Bitcoin Cash and Litecoin tokens together account for 2.32% of GDLC holdings, which are down from 2.88% in July.
Grayscale did not make quarterly adjustments to its DeFi Fund, which is currently dominated by Uniswap at 45.20% and AAVE at 14.11%.
Grayscale popularity favored by Morgan Stanley
Grayscale products continue to capture general attention, with financial giants such as Morgan Stanley, more than doubling their investment in the unique asset that Grayscale Bitcoin Trust provides.
As previously reported, Morgan Stanley has invested in a total of 58,116 Grayscale Bitcoin Trust shares since July through its Europe Opportunity Fund, indicating a 105% increase in shares since April.
The company’s move to aggressive cryptocurrency investments follows a recent announcement in March 2021 aimed at ensuring investor exposure to Bitcoin. Of course, Greyscale’s biggest asset is Bitcoin, with the company managing no less than $30 billion. Ethereum is the second biggest asset held by the company, for a total of $9.9 billion in the ETH fund.
We do believe this is a very important step towards making cryptocurrencies available for all kinds of traders. With companies such as Greyscale taking this decision, it makes it much easier for traditional investors to join the cryptocurrency world – indirectly while having a big company handling everything for them. It’s a known fact that some of the traditional types of investors were a bit skeptical regarding cryptocurrencies, but this kind of decision provides them with a very easy way to join the crypto scene without necessarily having to do a lot of research themselves.
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