Grayscale’s New DeFi Fund Consists of UNI, AAVE, COMP +7 Other Altcoins
Grayscale Investments announced the launch of a decentralized finance (DeFi) fund in partnership with CoinDesk Indexes. The fund consists of ten altcoins, including Uniswap (UNI), Aave (AAVE), and Compound (COMP).
Grayscale Investments, the world’s largest digital currency asset manager, announced Monday the launch of its newest diversified investment product, the Grayscale Decentralized Finance Fund.
The announcement explains that the Grayscale DeFi Fund “provides investors with exposure to a selection of industry-leading defi protocols.”
The new fund is the crypto asset manager’s 15th investment product and its second diversified product.
Since it was launched in 2013, Grayscale has become the largest digital asset manager with nearly $30 billion of assets under management (AUM) as of now. While its flagship product tracks the performance of Bitcoin, the firm has launched numerous more funds for different digital assets.
The latest fund will focus on alternative coins (altcoins) representing the decentralized finance space, as the company announced on July 19th.
The Grayscale Decentralized Finance (DeFi) Fund consists of ten tokens with the following asset allocation:
– Uniswap (UNI) – (49.95%).
– Aave (AAVE) – 10.25%
– Compound (COMP) – 8.38%
– Curve (CRV) – 7.44%
– MakerDAO (MKR) – 6.46%
– SushiSwap (SUSHI) – 4.83%
– Synthetix (SNX) – 4.43%
– Yearn Finance (YFI) – 3.31%
– UMA Protocol (UMA) – 2.93%
– Bancor Network Token (BNT) – 2%.
Grayscale Investments CEO Michael Sonnenshein commented on the new fund:
“The emergence of decentralized finance protocols provide clear examples of technologies that can redefine the future of the financial services industry.”
Besides the new defi fund, Grayscale’s 14 other investment products are the Bitcoin Trust, Basic Attention Token Trust, Bitcoin Cash Trust, Chainlink Trust, Decentraland Trust, Ethereum Trust, Ethereum Classic Trust, Filecoin Trust, Horizen Trust, Litecoin Trust, Livepeer Trust, Stellar Lumens Trust, Zcash Trust, and the Digital Large Cap Fund.
Grayscale announced last week that the oldest bank in the U.S., BNY Mellon, will provide its flagship product, the Grayscale Bitcoin Trust (GBTC), with asset servicing and exchange-traded fund (ETF) services.
