Investment Company Added This Altcoin To Its Cart: Released These 2!

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Grayscale Investments, the asset manager for cryptocurrencies, made several changes to the Grayscale DeFi Fund and Digital Large Cap Fund. In this context, some altcoin projects were removed from the fund, while others were added.

Grayscale added and removed altcoins to its fund

In a January 3 announcement, Grayscale detailed the changes it has made to its two funds. The DeFi Fund has added AMP, the Flexa payment network’s native collateral token, while the weight of Bancor (BNT) and Universal Market Access (UMA) has been removed. Flexa uses the AMP token to secure crypto payments and returns it in fiat to buyers allowing traders to easily accept crypto.

On the other hand, the Digital Large Cap Fund did not change the token list. Grayscale’s DeFi Fund now consists of nine different crypto assets from the DeFi ecosystem. Uniswap (UNI) has the highest weight in the fund with 42.33%, while the newly added AMP accounts for 7.39%. At the time of writing, Grayscale DeFi Fund’s share price is $5.56, marking an 11.2 percent gain since its initial share price of $5 on July 14. The fund has $11.6 million in assets under management and owns 2.08 million shares.

Grayscale is best known for the Grayscale Bitcoin Trust, which currently has $30.1 billion in assets under management. Grayscale accrued 645,199 BTC by the end of the year, making it the company with the most increases in Bitcoin (BTC) holdings by 2021 among spot Bitcoin ETFs and companies. This amount accounted for 71 percent of all BTC holdings in the market.