Grayscale readjusts DeFi Fund’s portfolio, replaces BMT, UMA with Flexa’s AMP
Digital asset manager Grayscale announced in a Tuesday press release it has readjusted component weightings of some digital assets in its DeFi fund portfolio.
As per the announcement, the firm would remove tokens of the Bancor (BNT) protocol and Universal Market Access (UMA) protocol from its CoinDesk DeFi Index and the DeFi Fund. Proceeds from selling the tokens would be used to purchase AMP, the native token of Flexa network, per its quarterly rebalancing.
Digital payments platform Flexa network offers crypto-collateralized payments at various merchants – physical and online – to reduce costs, settlement times, and fraud. Payments are collateralized using Flexa’s AMP token to enable instant transactions while the payments are confirmed on respective blockchains.
Grayscale has not specified any reason behind the removal of BMT and UMA tokens. The tokens constituted 2% and 2.9% of the index when it launched in July 2021. AMP will now be composed of 7.39% of the fund.
Uniswap (UNI) and Aave (AAVE) currently form the largest share in Graysale’s DeFi Fund, accounting for 42.33% and 13.06% weightings, respectively. Other assets that compose the fund, include Compound (COMP), Curve (CRV), Sushi Swap (SUSHI), and more.
US-based Grayscale Investment is currently the world’s largest crypto management firm with $43 billion in Crypto Assets Under Management. The recent market correction resulted in Grayscale’s assets falling from $61 billion in early November to $43.6 billion, a 28% decline in two months period. Previously, its Grayscale Bitcoin Trust alone accounted for $43.5 billion in assets.
12/31/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.Total AUM: $43.6 billion$BTC $BAT $BCH $LINK $MANA $ETH $ETC $FIL $ZEN $LTC $LPT $XLM $ZEC $UNI $AAVE $COMP $CRV $MKR $SUSHI $SNX $YFI $UMA $BNT $ADA $SOL pic.twitter.com/vCkExTIjHh— Grayscale (@Grayscale) December 31, 2021