Grayscale Adds Solana And Uniswap To It’s $494M Digital Large Cap Fund

The asset manager Grayscale’s bitcoin-heavy fund allocated 3.24% of its investment to Solana (SOL) on Friday, 1 October, 2021. They also took position in the native token of decentralized exchange Uniswap (UNI).

Asset management firm Grayscale added Solana’s native token (SOL) and the decentralized finance token Uniswap to its large-cap crypto fund for the first time on Friday.

Grayscale, which is a subsidiary of Digital Currency Group, said in a statement that its $494 million Digital Large Cap Fund closed Friday with a 3.24% SOL position.

According to the statement:

“[It] is the first time Solana (SOL) will be included in a Grayscale investment vehicle.”

According to Grayscale the move was part of a quarterly rebalancing.

SOL is now the fourth-largest holding of a fund dominated by bitcoin. It gave back some gains late Friday but remained near session highs. At the time of writing Solana trades for $160, with 14.6% gains on daily chart.

The Fund also added decentralized exchange Uniswap’s native token UNI. The token will make up around 1% of the overall fund. At the time of writing UNI trades for $26.13, with 8.1% gains on the daily chart.