Grayscale Investments Updates Portfolio Weightings
Grayscale Investments, the world’s largest crypto asset manager, has made changes to the component weightings of its key products. These adjustments were made in line with the CoinDesk Large Cap Select Index methodology during the fourth quarter of 2023 reviews. The Grayscale Digital Large Cap Fund (GDLC) has added Ripple’s XRP and Avalanche (AVAX) to its portfolio, while Polygon (MATIC) was removed.
GDLC Portfolio Composition
As of January 4, 2024, GDLC’s major fund components include Bitcoin (BTC) at 69.15% and Ethereum (ETH) at 21.90%. The portfolio also includes Solana (SOL) at 3.65%, XRP at 2.54%, Cardano (ADA) at 1.62%, and Avalanche at 1.14%.
Changes in DEFG Portfolio
The Grayscale DeFi Fund (DEFG) saw the sale of certain fund components during the rebalancing process. Curve DAO Token (CRV) was removed from DEFG’s portfolio. The current holdings of DEFG include Uniswap (UNI) at 41.11%, Lido (LDO) at 23.90%, MakerDAO (MKR) at 13.39%, Aave (AAVE) at 12.63%, and Synthetix (SNX) at 8.97%.
GSCPxE Fund Portfolio Remains Unchanged
The Grayscale Smart Contract Platform Ex-Ethereum Fund’s portfolio remains unchanged. It consists of Solana at 44.54%, Cardano (ADA) at 19.77%, Avalanche at 13.89%, Polkadot (DOT) at 9.75%, Polygon at 8.25%, and Cosmos (ATOM) at 3.80%.
Grayscale’s Spot Bitcoin ETF Filing
Grayscale has submitted another S-3 form to the SEC, indicating its intention to convert Grayscale Bitcoin Trust (GBTC) into a Spot Bitcoin ETF. This move comes after Chairman Barry Silbert stepped down and is seen as Grayscale complying with the SEC’s cash-only orders. Grayscale has been preparing for an ETF since 2017 and has authorized participants like Jane Street and Virtu.
Hot Take: Grayscale Updates Fund Portfolios and Pursues Spot Bitcoin ETF
Grayscale Investments has made changes to its fund portfolios, including adding XRP and Avalanche to the GDLC. The DEFG portfolio saw the removal of CRV, while GSCPxE Fund’s portfolio remained unchanged. Additionally, Grayscale filed an S-3 form to convert GBTC into a Spot Bitcoin ETF, following the departure of Chairman Barry Silbert. These moves indicate Grayscale’s commitment to adapting to market conditions and regulatory requirements in order to provide diversified investment opportunities for crypto investors.
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