• Tue. Aug 2nd, 2022

Here are the 5 cryptocurrencies removed from Grayscale’s Digital Large Cap fund

ByHazel R. Lang

Jul 10, 2022

Grayscale, which has recently focused primarily on transforming its flagship Trust into a spot Bitcoin ETF, removed five altcoins from its Digital Large Cap Fund. The assets in question are Bitcoin Cash, Chainlink, Litecoin, Polkadot and Uniswap.

  • The statement earlier this week informed that the largest digital asset manager had sold “certain amounts of existing fund constituents in proportion to their respective weightings”.
  • Therefore, Grayscale has removed BCH, LINK, LTC, DOT and UNI from the Digital Large Cap Fund and will not add any replacements.
  • Bitcoin continues to have the largest share within the aforementioned fund with 68.88%, followed by Ethereum 25.22%, Cardano (2.71%), Solana (2.23%) and Avalanche (0.96%). %).
  • Grayscale has also removed Yearn Finance (YFI) from its DeFi fund and will not replace it with another asset. Uniswap (56.35%) is the undisputed leader of this product, MakerDAO (13.49%), Aave (12.44%), Curve DAO Token (7.48%), Amp (5.52%) and Compound (4.72%) are as follows.
  • Finally, the asset manager delisted Stellar Lumens from the Smart Contract Platform Select Ex ETH Index, where Cardano, Solana and Polkadot hold the largest shares.
  • These changes come at an intriguing time for Grayscale, which has seen its AUM drop significantly over the past year.
  • The company is primarily focused on converting its Bitcoin Trust into a spot Bitcoin ETF in the US, which has seen little to no success. The SEC denied Grayscale’s latest request, prompting the asset manager to file a lawsuit against the securities watchdog.

Binance Free $100 (Exclusive): Use this link to sign up and receive $100 free and 10% off Binance Futures fees for the first month (terms).

PrimeXBT Special Offer: Use this link to sign up and enter code POTATO50 to receive up to $7,000 on your deposits.

Source link