Grayscale has just rebalanced the weightings of three of its cryptocurrency funds. Apparently, Avalance and XRP currencies have made their way into the Digital Large Cap Fund (GLDC). The DeFi Fund also saw some movement while the Smart Contract Platform Ex-Ethereum Fund (GSCPxE Fund) remained intact.
Grayscale revises its preferred cryptos
Grayscale, which could see its applications for Spot ETFs on bitcoin and ether validated this year, recently carried out the rebalancing the weightings of its cryptocurrency holdings.
“ Grayscale has rebalanced the weightings of three of its crypto funds, removing tokens such as MATIC and adding AVAX and XRP. »
Based on a report published on January 5, Contelegraph has provided extensive details regarding these very important updates to the GLDC, DeFi Fund and GSCPxE Fund wallets.
Below are the details.
Grayscale Digital Large Cap Fund (GLDC)
“ In accordance with the CoinDesk Large Cap Select Index Methodology, Grayscale adjusted GLDC’s portfolio by selling certain amounts of existing fund components in proportion to their respective weightings and using the cash proceeds to purchase Avalanche (AVAX) and XRP. As a result of the rebalance, Polygon (MATIC) has been removed from GLDC », we specify in the press release.
Thus, at the end of the day on January 4, 2024, the GLDC fund consisted of:
- Bitcoin (BTC) at 69.15%;
- Ethereum (ETH) at 21.90%;
- Solana (SOL) at 3.65%;
- XRP (XRP) at 2.54%;
- Cardano (ADA) at 1.62%;
- and Avalanche (AVAX) at 1.14%.
Grayscale DeFi Fund (Defi Fund)
Regarding this crypto portfolio, Grayscale used the methodology of the CoinDesk DeFi Select index. By the end of the day on January 4, it no longer included no Curve DAO token (CRV)a project that was hacked last year.
Only cryptos remaining: Uniswap (UNI) at 41.11%, Lido (LDO) at 23.90%, MakerDAO (MKR) at 13.39%, Aave (AAVE) at 12.63% and Synthétix (SNX) at 8 .97%.
Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE Fund)
A priori, this background has not suffered any change. It incorporates Solana (SOL) at 44.54%, Cardano (ADA) at 19.77%, Avalanche (AVAX) at 13.89%, Polkadot (DOT) at 9.75%, Polygon (MATIC) at 9, 25% and Cosmos (ATOM) at 3.80%.
It’s worth noting at the end of this article that fund managers like Grayscale make a practice of reviewing and adjusting weightings periodically. Objective : optimize fund performance based on market conditions, risk assessment and investment objectives.
The CEO of Grayscale, on the other hand, is very optimistic about the approval of spot ETFs. He predicts around $30 trillion in funds entering the bitcoin market cap after deployment.
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