Grayscale removes LTC, BCH, LINK, UNI and DOT from the Digital Large Cap Fund

0
3

Grayscale, the world’s largest crypto asset manager, has removed several digital currencies from its flagship fund the Digital Large Cap Fund (OTCQX: GDLC), according to details shared in a press release.

The asset manager, which recently sued the US Securities and Exchange Commission (SEC) for denying its application of a spot Bitcoin ETF, provided the information in an update posted on Friday.

The asset manager said in its announcement that it had sold portions of the Digital Large Cap Fund portfolio after updating the Fund Component weightings for respective products. The adjustment was based on respective reviews of each component in Q2 2022.

Bitcoin Cash, Litecoin and Chainlink removed

According to Grayscale, a rebalancing of the Large Cap Fund saw the removal of five Fund Components. These are: Bitcoin Cash (BCH), Chainlink (LINK), Litecoin (LTC), Polkadot (DOT) and Uniswap (UNI).

That leaves the Digital Large Cap Fund’s with five components. As of 7 July, Bitcoin (BTC) accounted for the largest portion with a weighting of 68.88%. The other four are Ethereum (ETH), with 25.22%, Cardano (ADA), with a weighting of 2.71%, Solana (SOL) at 2.23% and Avalanche (AVAX) at 0.96%.

Grayscale also adjusted the DeFi Fund components, with Yearn Finance (YFI) removed. The Fund now has Uniswap, MakerDAO, Aave, Curve DAO and Compound. Uniswap is the largest Fund Component in the portfolio with a weighting of 56.35%.

Grayscale did not add any new tokens to the Digital Large Cap Fund or the DeFi Fund, according to the press release.

The post Grayscale removes LTC, BCH, LINK, UNI and DOT from the Digital Large Cap Fund appeared first on Invezz.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.