87 total views
Grayscale, the world’s largest crypto asset manager, has removed several digital currencies from its flagship fund the Digital Large Cap Fund (OTCQX: GDLC), according to details shared in a press release.
The asset manager, which recently sued the US Securities and Exchange Commission (SEC) for denying its application of a spot Bitcoin ETF, provided the information in an update posted on Friday.
Are you looking for fast-news, hot-tips and market analysis?
Sign-up for the Invezz newsletter, today.
The asset manager said in its announcement that it had sold portions of the Digital Large Cap Fund portfolio after updating the Fund Component weightings for respective products. The adjustment was based on respective reviews of each component in Q2 2022.
Bitcoin Cash, Litecoin and Chainlink removed
According to Grayscale, a rebalancing of the Large Cap Fund saw the removal of five Fund Components. These are: Bitcoin Cash (BCH), Chainlink (LINK), Litecoin (LTC), Polkadot (DOT) and Uniswap (UNI).
That leaves the Digital Large Cap Fund’s with five components. As of 7 July, Bitcoin (BTC) accounted for the largest portion with a weighting of 68.88%. The other four are Ethereum (ETH), with 25.22%, Cardano (ADA), with a weighting of 2.71%, Solana (SOL) at 2.23% and Avalanche (AVAX) at 0.96%.
Grayscale also adjusted the DeFi Fund components, with Yearn Finance (YFI) removed. The Fund now has Uniswap, MakerDAO, Aave, Curve DAO and Compound. Uniswap is the largest Fund Component in the portfolio with a weighting of 56.35%.
Grayscale did not add any new tokens to the Digital Large Cap Fund or the DeFi Fund, according to the press release.
75.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Blockcast.cc does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice or recommendations. Every investment and trading move involves risk, you should conduct your own research when making a decision.