Here Are the 5 Cryptocurrencies Removed From Grayscale’s Digital Large Cap Fund
Grayscale, whose focus lately has been primarily on turning its flagship Trust into a spot Bitcoin ETF, has removed five altcoins from its Digital Large Cap Fund. The assets in question are Bitcoin Cash, Chainlink, Litecoin, Polkadot, and Uniswap.
- The statement from earlier this week informed that the largest digital asset manager had sold “certain amounts of the existing Fund Components in proportion to their respective weightings.”
- Consequently, 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 clear leader in this product, MakerDAO (13.49%), Aave (12.44%), Curve DAO Token (7.48%), Amp (5.52%), and Compound (4.72%) are next.
- Lastly, the asset manager has delisted Stellar Lumens from the Smart Contract Platform Select Ex ETH Index, where Cardano, Solana, and Polkadot have the largest shares.
- These changes come at an intriguing time for Grayscale, which has seen its AUM decreased considerably in the past year or so.
- The company is mainly focused on converting its Bitcoin Trust into a spot Bitcoin ETF in the States, which has seen little-to-no success. The SEC rejected Grayscale’s latest application, which pushed the asset manager into pursuing legal action against the securities watchdog.
