In a press statement, New York-based cryptocurrency manager Grayscale has announced the “quarterly fund rebalancing” of its Digital Large Cap Fund and Defi Fund, respectively.
The rebalancing project would see it invest in Solana for the first time, and it would also be investing in leading Defi protocol Uniswap. Per the announcement, SOL and Uniswap will take 3.24 percent and 1.06 percent of the project, respectively.
This would not be the first time it is rebalancing its funds, earlier in July, the investment fund management company had also adjusted its Digital Large Cap Fund to invest in Cardano.
Grayscale’s Crypto Investments
Grayscale is undoubtedly one of the largest crypto investors in the world. Its “Bitcoin Trust” has enjoyed the support of multinational companies like Morgan Stanley and popular investment company, Ark.
Available data shows that the Bitcoin Trust raked in over $32 billion, pushing the Grayscale Investment’s Assets Under Management (AUM) to $46.8 billion compared to August’s $41.6 billion. The crypto manager’s Ethereum Trust is currently sitting at a record of $12.1 billion AUM.
Apart from the Bitcoin Trust, it is also making the news for its attempt at a Bitcoin ETF project. The New York-based asset management firm believes it is only a matter of time before the SEC approves one of the numerous applications before it.
This way, it could someday be able to achieve its dream of converting its Bitcoin Trust into an ETF.