Founded in 2013, Grayscale has seen its assets under management reach approximately $ 43.6 billion as of December 31, 2021
Grayscale Investments, the world’s leading digital currency asset manager, has released the quarterly fund rebalancing. Among them is the Grayscale Decentralized Finance (DeFi) Fund which owns digital assets that make up the CoinDesk DeFi Index. According to the firm, Bancor (BNT) and Universal Market Access (UMA) have been withdrawn from the DeFi fund.
Following which the proceeds will be used to purchase Amp Tokens (AMP).
“In accordance with the methodology of the CoinDesk DeFi Index, Grayscale has adjusted the DeFi fund portfolio by selling certain amounts of the existing fund components in proportion to their respective weights,” the company noted in a press release.
Following the announcement, the AMP token was up around 2.1% at time of publication and trading of around $ 0.04994240 according to CoinGecko. Notably, AMP is the native digital asset of the Flexa network, which enables crypto-collateralized payments in physical stores and online.
The asset manager supports Flexa’s mission to accelerate the development of blockchain technology in the P2P monetary system. Therefore, as blockchain technology expands through the monetary system, the business returns profits to its investors.
The Grayscale DeFi fund now consists of Uniswap which represents 42.33%, Aave (AAVE), 13.06%, Curve (CRV), 10.63%, MakerDAO (MKR), 8.99%, Amp (AMP ), 7.39%, Yearn Finance (YFI), 6.34%, Composite (COMP), 5.02%, Synthetix (SNX), 3.15% and SushiSwap (SUSHI), 3.09%.
However, the company did not modify the Grayscale Digital Large Cap Fund. The components of the Digital Large Cap Fund include Bitcoin (BTC), 60.50%, Ethereum (ETH), 30.13%, Solana (SOL), 3.56%, Cardano (ADA), 3.05%, Uniswap ( UNI), 0.77%, Chainlink (LINK), 0.71%, Litecoin (LTC), 0.69% and Bitcoin Cash (BCH), 0.59%.
Grayscale scrutinizes DeFi and Altcoin industry
Founded in 2013, Grayscale has seen its assets under management reach approximately $ 43.6 billion as of December 31, 2021. However, it is safe to note that the DeFi Fund and Digital Large Cap do not generate any income according to the company. . Instead, they both regularly distribute Fund Components to pay for current expenses.
The DeFi ecosystem has grown astronomically over the past two years. Additionally, this has been directly attributed to the bull market which started in 2020. According to market analysis provided by DeFi Pulse, the total value locked in stands at around $ 102.21 billion. So the figure again tests last year’s all-time high of around $ 110 billion.
Over the past year, institutional investors have largely dominated the inflow of cash into the DeFi ecosystem, a phenomenon attributed to the growing regulation of the industry.
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