Grayscale Investments added SOL and UNI to the $ 495 million GDLC fund as part of the latest rebalancing. To do this, the company sold part of the fund’s other assets, including BTC.
According to Grayscale, as part of the latest quarterly rebalancing of the Digital Large Cap Fund (GDLC), the company added crypto assets SOL and UNI to the investment instrument, which now account for 3.24% and 1.06% of all fund assets. BTC maintains a dominant position in the fund with 62% and ETH volume is 26%. GDLC also includes ADA, LINK, LTC and BCH.
To buy SOL and UNI, the fund manager sold other assets. The fund’s BTC volume has declined by about 5% since the last rebalancing in July. At the same time, the share of ADA in the fund since the last quarter has grown from 4.26% to 5.11%.
The rebalancing underscores the interest of institutional investors in Solana. The SOL price started rising this summer and peaked at $ 191 in mid-September before dropping back to the current price of $ 161. The change in the proportions of assets in the fund also suggests that the dominance of bitcoin is gradually decreasing in favor of altcoins.
In April, BTC accounted for 79.8% of the fund’s assets, while ETH only 17%. BTC’s dominance by market cap also fell from 69% in April to 42% last week. However, Grayscale’s largest product remains the $ 30 billion GBTC fund.The company’s second largest investment instrument is the $ 9.9 billion ETHE fund.
As a reminder, in July Grayscale Investments announced the creation of the Grayscale DeFi Fund focused on DeFi tokens.
