Grayscale Investments, a leading cryptocurrency investment firm, has announced updates to the component weights of its core investment products, including the Grayscale Digital Large Cap Fund (GDLC), Grayscale DeFi Fund, and Grayscale Smart Contract Platform Ex-Ethereum Fund. The firm recently added Ripple’s XRP and Avalanche’s AVAX to GDLC, a move likely to please investors of these two altcoins.
During the fourth quarter review of 2023, Grayscale made revisions to its portfolios in accordance with the CoinDesk Large Cap Select Index methodology. Notably, Polygon (MATIC) was removed from the GDLC portfolio.
As of January 4, 2024, GDLC’s primary fund components include Bitcoin (BTC) at 69.15% and Ethereum (ETH) at 21.90%. Other components feature Solana (SOL) at 3.65%, XRP at 2.54%, Cardano (ADA) at 1.62%, and AVAX at 1.14%.
Additionally, during the quarterly rebalancing of the DeFi Fund, certain component weights were adjusted, leading to the removal of Curve DAO Token (CRV) from the portfolio. The fund now includes Uniswap (UNI) at 41.11% and Lido (LDO) at 23.90%, among others.
Meanwhile, Grayscale’s Smart Contract Platform Ex-Ethereum Fund’s portfolio components remain unchanged, with SOL and ADA holding the largest shares. The firm also filed an S-3 form with the SEC on January 2nd and updated its application to convert the Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF following the resignation of its Chairman, Barry Silbert. This update aligns GBTC’s ETF conversion application with the SEC’s expected cash redemption model, bringing the firm closer to the final stages of the process.
