Grayscale Adds Lido Token to DeFi Fund
Grayscale, the digital asset manager, has included Lido protocol’s LDO token in its DeFi Fund, making it the second-largest component. The fund’s weightings now consist of Uniswap (UNI) at 45.46%, Lido (LDO) at 19.04%, Aave (AAVE) at 11.53%, MakerDAO (MKR) at 10.82%, Curve DAO Token (CRV) at 7.03%, and Synthetix (SNX) at 6.12%. Grayscale adjusted the portfolio by selling certain amounts of existing components in proportion to their weightings and using the cash proceeds to purchase Lido (LDO). No tokens were removed from the DeFi Fund.
Key Points:
– Grayscale has added Lido protocol’s LDO token to its DeFi Fund.
– The fund’s weightings now include Uniswap, Lido, Aave, MakerDAO, Curve DAO Token, and Synthetix.
– Grayscale adjusted the portfolio by selling existing components and using the cash to buy Lido.
– No tokens were removed from the DeFi Fund.
Lido is a decentralized liquid staking protocol that allows users to keep their staked tokens liquid through a stand-in token, or stToken. Grayscale updates the composition of its funds on a quarterly basis.
Hot Take:
Grayscale’s addition of Lido protocol’s LDO token to its DeFi Fund shows the company’s continued interest in the decentralized finance space. By adjusting its portfolio to include Lido, Grayscale is positioning itself to benefit from the growth and potential of the Lido protocol. This move highlights Grayscale’s strategic approach to staying at the forefront of the digital asset market.
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