Crypto asset manager Grayscale Investments has rebalanced its Grayscale DeFi Fund and reweighted its Digital Large Cap Fund.
The Jan. 3 announcement detailed Grayscale’s adjustments to its two funds. DeFi funds have been reweighted with the addition of AMP, the native collateral token of the Flexa payments network, while Bancor (BNT) and Universal Market Access (UMA) have been removed.
Flexa uses AMP tokens to collateralize crypto payments and settle them in fiat to recipients, making it easy for merchants to accept cryptocurrencies.
Grayscale rebalanced the weights, but did not change the Grayscale Digital Large Cap Fund (GDLC) token list.
We just announced an update to the component weights of the Grayscale DeFi Fund, which now includes AMP. This is the first time that AMP has been included in Grayscale’s investment tools.
— Grayscale (@Grayscale) January 3, 2022
Grayscale’s DeFi fund is now composed of 9 different crypto assets in the DeFi ecosystem. Uniswap (UNI) has the highest weighting in the fund at 42.33%, while new addition AMP has a weighting of 7.39%.
At the time of writing, the Grayscale DeFi Fund is trading at $5.56, up 11.2% from its July 14 launch price of $5. The fund has $11.6 million in assets under management and 2.08 million shares outstanding.
Grayscale's best-known product is its Grayscale Bitcoin Trust, which currently manages $30.1 billion in assets. It is currently trading at $34.27, up 23% since July 14 and up 59.16% over the past 12 months.
Both the Grayscale DeFi Fund and its Bitcoin Trust have outperformed the DeFi Pulse Index (DPI), the largest retail DeFi index by market capitalization, since July 14. While DPI traded higher, prices fell 2% over the same period.
In 2021, among spot bitcoin ETFs and enterprises, Grayscale has the largest increase in bitcoin holdings, accumulating 645,199 BTC by the end of the year, accounting for 71% of bitcoin holdings in the spot ETF and enterprise market.
Cointelegraph Chinese is a blockchain news information platform, and the information provided only represents the author's personal opinion, has nothing to do with the position of the Cointelegraph Chinese platform, and does not constitute any investment and financial advice. Readers are requested to establish correct currency concepts and investment concepts, and earnestly raise risk awareness.