Grayscale Investments, the world’s leading digital asset manager, has readjusted its DeFi fund. The company rebalanced the financial product weights with AMP (the native token of the Flexa payment network), while Bancor Network Token (BNT) and Universal Market Access Protocol (UMA) were removed.
DeFi fund adjustment
According to a recent series of tweets published by the company, this will be the first time that AMP – a token used to secure payments on the Flexa network – has been included in Grayscale’s investment portfolio.
We just announced the update to component weights for grayscale #Challenge Fund, which now includes $ AMP. This is the first time that AMP will be included in a grayscale investment vehicle. Read this thread to learn more: pic.twitter.com/jfKAih24cS
– Grayscale (@grey levels) January 3, 2022
Grayscale explained that by “settling payments in fiat quickly”, the Flexa network helps merchants to accept payments in digital currencies “more easily”.
In contrast, the cryptocurrency management company has informed that it has removed Bancor Network Token (BNT) and Universal Market Access Protocol (UMA) from its DeFi fund entirely.
The company said none of its other products have changed, including the Grayscale Digital Large Cap Fund.
Launched in 2013 and based in the United States, Grayscale Investments is the world’s largest entity focused on cryptocurrency investment services. In November of last year, its assets under management reached a record high of $ 60 billion.
The birth of the DeFi Fund
Grayscale launched its product in July 2021. The Decentralized Finance (DeFi) fund has enabled institutional investors to receive exposure to assets in this particular space.
The initial tokens included in the product were ten, as Uniswap’s governance asset (UNI) had almost half of the weightings – 49.95%.
Aave (AAVE) was next at 10.25%, while Compound (COMP) was third at 8.38%. Curve (CRV) – 7.44%, MakerDAO (MKR) – 6.46%, SushiSwap (SUSHI) – 4.83%, Synthetix (SNX) – 4.43%, Year Finance (YFI) – 3.31% , UMA Protocol (UMA) – 2.93%, and Bancor Network Token (BNT) – 2% were the other tokens included in the initiative.
Six months later, the company updated its portfolio. According to the website, Uniswap still holds the largest share of the pie with 43%, followed by Aave (13%), Curve DAO Token (10.6%) and Maker (9%).
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