Grayscale Removes Bancor (BNT) And Universal Market Access (UMA) From Its DeFi Fund
January 07 2022 - 2:00PM
NEWSBTC
The Grayscale Investment manager undertakes another phase of
balancing its Grayscale DeFi fund. This round of rebalance
inculcate the adjustment of the project’s Digital Large Cap Funds.
This move marks its second balancing process after its launch in
July 2021. An announcement on January 3 revealed the in-depth
adjustments to Grayscale’s two funds. The first rebalancing
employed the Flexa payment network’s native collateral coin.
Related Reading | Could Kazakhstan Turmoil Cause Another
Bitcoin Hash Crash? Hence, Grayscale DeFi Fund’s weighting was
rebalanced with the addition of AMP. Conversely, the rebalancing
process led to the removal of Universal Market Access (UMA) and
Bancor (BNT). Though Grayscale created some adjustments to its
funds’ weightings, the Grayscale Digital Large Cap Fund (GDLC)
suffered no alteration to its token list. According to Grayscale’s
announcement, the rebalancing process is the time to include AMP
within a Grayscale investment vehicle. Using its native token,
Flexa can collateralize crypto payments and engage in fiat
settlements. Thus, merchants and other users could quickly receive
cryptocurrencies without delays. Significance Of Grayscale
Rebalancing Process Following this second rebalancing process, the
addition of AMP brings the number of crypto assets within the
Grayscale DeFi Fund to nine in the DeFi ecosystem. Also, the
alteration to the Grayscale Fund reflects the changes on the DeFi
Index (DFX) of CoinDesk. Among the components of crypto assets that
made the Fund, the highest weighting goes to Uniswap (UNI) with
42.33%. The newly added AMP takes up 7.39% of the Fund’s weighting.
Having its popularity as Grayscale Bitcoin Trust, Grayscale now has
about $30.1 billion assets under management (AUM). The share
trading at $34.27 shows a 23% up from July 14, 2021, and a 59.16%
up within the last 12 months. The share price of Grayscale DeFi
Fund at the press time is $5.56. This depicts an 11.2% rise from
its launch price of $5 on July 14, 2021. Moreover, the Fund’s
assets under management as of its launch period were $11.6 million
with a share outstanding of 2.08 million. Related article
| Only In Crypto: A Croissant Breaks Down How GameStop &
NFTs Will Boost Ethereum The ‘s performanceGrayscale Bitcoin
Trust’s performance and its DeFi Funds is highly above the DeFi
Pulse Index (DPI), which is the biggest retail DeFi Index based on
the market cap from July 14. However, despite the huge trading
volume of the DPI, it still indicates a dip of about 2% within the
same interval. Among all spot Bitcoin ETFs and Corporations,
Grayscale possessed the most significant upsurge of BTC holdings
through 2021. By the end of the year, the Fund accrued 645,199 BTC.
This explains 71% of the corporate market and spot ETF BTC
holdings. Featured image from Pexels, Charts from TradingView.com
Uniswap (COIN:UNIUSD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Uniswap (COIN:UNIUSD)
Historical Stock Chart
From Apr 2023 to Apr 2024