Grayscale excludes seven altcoins from its crypto funds

The company noted that no new tokens have been added to any of the trusts

09.07.2022 - 06:45

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What’s new? Digital asset management company Grayscale has adjusted the composition of several cryptocurrency funds in line with the state of the market at the end of the second quarter of 2022. Digital Large Cap Fund, DeFi Fund, and Smart Contract Platform Select Ex Ethereum Fund (GSCPxE) have undergone rebalancing. No new tokens have been added to any of the trusts, according to the company’s press release.

Grayscale’s press release

More details about rebalancing. Bitcoin Cash (BCH), Chainlink (LINK), Litecoin (LTC), Polkadot (DOT), and Uniswap (UNI) have been removed from the Digital Large Cap Fund’s trust. As of July 7, the fund’s asset basket comprised:

Bitcoin (BTC) — 68,88%;
Ethereum (ETH) — 25,22%;
Cardano (ADA) — 2,71%;
Solana (SOL) — 2,23%;
Avalanche (AVAX) — 0,96%.

The DeFi Fund’s rebalancing in accordance with the CoinDesk DeFi Index methodology led to the removal of Yearn Finance (YFI) from the fund. As of July 6, the trust’s asset basket included:

Uniswap (UNI) — 56,35%;
MakerDAO (MKR) — 13,49%;
Aave (AAVE) — 12,44%;
Curve DAO Token (CRV) — 7,48%;
Amp (AMP) — 5,52%;
Compound (COMP) — 4,72%.

The company removed Stellar (XLM) from the GSCPxE fund. As of July 6, the trust’s asset basket included:

Cardano (ADA) — 1,69%;
Solana (SOL) — 25,43%;
Polkadot (DOT) — 13,90%;
Avalanche (AVAX) — 10,87%;
Polygon (MATIC) — 8,45%;
Cosmos (ATOM) — 5,29%;
Algorand (ALGO) — 4,37%.

Greyscale earlier applied to convert the Grayscale Bitcoin Trust (GBTC) into a spot bitcoin ETF (exchange-traded fund). In February 2022, the US Securities and Exchange Commission (SEC) delayed a decision to launch a bitcoin ETF, noting the need to explore Grayscale’s capabilities to crack down on fraudulent activity on the spot market. In June, the company sued the Commission after the agency rejected its application to convert the trust.

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