Grayscale Launches a DeFi Fund Consisting of Uniswap (UNI), Aave (AAVE), and Compound (COMP)

Forum 2 years ago

Grayscale Launches a DeFi Fund Consisting of Uniswap (UNI), Aave (AAVE), and Compound (COMP)

The world’s largest cryptocurrency asset manager, Grayscale Investments, has launched a new product focused on assets from the DeFi space only.

Grayscale announced the release of its latest product called Decentralized Finance (DeFi) Fund to enable institutional investors to receive exposure to assets from that particular space. Some of the tokens represented in the fund will be Uniswap (UNI), Aave (AAVE), and Compound (COMP).

• Launched in 2013, Grayscale has become the largest digital asset manager with nearly $30 billion of AUM as of now. While its flagship product tracks the performance of Bitcoin, the firm has launched numerous more funds for different digital assets.

• The latest will focus on coins representing the decentralized finance space, as the company announced on July 19th.

• As of July 1st, The Grayscale Decentralized Finance (DeFi) Fund consisted of ten tokens. Uniswap’s governance asset (UNI) had almost half of the weightings (49.95%).

• Aave (AAVE) was next with 10.25%, followed by Compound (COMP) – 8.38%, Curve (CRV) – 7.44%, MakerDAO (MKR) – 6.46%, SushiSwap (SUSHI) – 4.83%, Synthetix (SNX) – 4.43%, Yearn Finance (YFI) – 3.31%, UMA Protocol (UMA) – 2.93%. and Bancor Network Token (BNT) – 2%.

• As with the rest of Grayscale’s products, only individual and institutional accredited investors will have the option to receive exposure.

• “Grayscale continues to focus on creating opportunities for investors to access new, exciting parts of the digital asset ecosystem. The emergence of decentralized finance protocols provides clear examples of technologies that can redefine the future of the financial services industry.” – commented Grayscale’s CEO Michael Sonnenshein.

• The firm has shown interest in the DeFi space for a while after filing with the SEC to receive the right to launch individual products for DeFi-related tokens in the past.

• Interestingly, Grayscale’s latest product comes amid the company’s ongoing plans to turn its Bitcoin Trust into a BTC ETF, as Sonnenshein explained earlier.