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Grayscale Rebalances to Avalanche, Polkadot, Cosmos
By Peter Lee ·  
Peter Lee
This is some new business info for Grayscale. Grayscale has added Avalanche and Polkadot to its Digital Large Cap Fund, while Cosmos now features in the recently-launched Smart Contract Platform Ex-Ethereum Fund.

Grayscale has also removed Sushi and Synthetix from its DeFi Fund.

Grayscale Announces Latest Rebalancing

Grayscale Investments has completed its second portfolio rebalancing of 2022.

The asset management giant revealed Wednesday that it had added Avalanche and Polkadot to its Digital Large Cap Fund. The diversified fund, which also includes the likes of Bitcoin, Ethereum, and Solana, holds about $480 million in assets under management. Avalanche will account for 1.77% and Polkadot for 1.56%. Bitcoin and Ethereum take up almost 90% of the fund.

Cosmos now features in the Smart Contract Platform Ex-Ethereum Fund, a newly-launched product with around $4.9 million in assets under management. The Smart Contract Platform Ex-Ethereum Fund focuses on Ethereum competitors. Solana and Cardano each make up roughly a quarter of the fund, and Cosmos accounts for 5.23%.

As part of the same rebalancing, Grayscale removed Sushi and Synthetix from its DeFi Fund. Alongside the new fund focusing on smart contract networks, the DeFi product is one of Grayscale’s smallest offerings with just over $8 million in assets under management.

While Grayscale offers 18 investment products, the American firm is best known for its Bitcoin Trust, which holds over $29.5 billion in assets under management. Grayscale recently applied to the SEC to convert the fund to a long-awaited spot Bitcoin ETF. The firm has been going all out to get the application approved in recent months. It launched a campaign to encourage investors to lobby the SEC into giving the green light on the fund and Grayscale CEO Michael Sonnenhein last week went as far as hinting that he wouldn’t rule out suing the SEC if it was denied. The decision is still pending.

source: https://cryptobriefing.com/grayscale-rebalances-avalanche-polkadot-cosmos/

Chris Williams
Chris fell down the crypto rabbit hole midway through 2017, and he’s been hooked since then. He’s become an advocate for the open finance revolution, and he believes that the world would be a better place if banks were replaced by code. When he’s not following blockchains, he dedicates his time to music–mostly finding and listening to old records, and attending live gigs and club sets around London.