Grayscale Adds Polygon (MATIC) To Its Digital Large Cap Fund (GDLC)

Polygon (MATIC) receives more exposure as Grayscale Investments adds the asset to its Grayscale Digital Large Cap Fund (GDLC).

Grayscale Investments seeks to maintain its position as the world’s largest digital asset management firm, as it continuously introduces new investment products and updates offerings on existing products. In a recent highlight of events, Grayscale has added Polygon to its GDLC fund.

The recent development from Grayscale comes as a part of the asset manager’s rebalancing of three of its products for the Q3 2022 review exercise. 

In addition to the Grayscale Digital Large Cap Fund (GDLC), Grayscale announced the rebalancing of its Grayscale DeFi Fund (DeFi Fund) and Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE Fund).

Grayscale revealed the changes via a press release and through its official Twitter handle in the late hours of Thursday. According to the announcement, MATIC will take a 1.26% share of the GDLC fund, above Avalanche (AVAX) with a 0.86% share.

“Polygon (MATIC) has been added to Grayscale Digital Large Cap Fund (GDLC).”

NEW: As part of our latest quarterly rebalancing, Polygon $MATIC has been added to Grayscale Digital Large Cap Fund $GDLC alongside existing components $BTC, $ETH $ADA $SOL and $AVAX. Components are subject to change. Learn more: https://t.co/l0gd4Up9Cu pic.twitter.com/98DufuPrIF

— Grayscale (@Grayscale) October 7, 2022

Polygon Joins Crypto Market Leaders

Other digital assets found in the fund include Bitcoin (65.32% share), Ethereum (28.03% share), Cardano (ADA) (2.49% share), and Solana (2.04% share). Grayscale’s inclusion of MATIC in the GDLC fund marks the second time the firm is adding the asset to a multi-asset fund, following the addition of MATIC to the GSCPxE fund launched in March of this year. 

The decision to add MATIC to the GDLC fund gives investors of the fund extra exposure to the asset. Despite its inclusion of MATIC in the GDLC fund, Grayscale did not add nor remove any asset from the DeFi Fund and the GSCPxE fund in the recent quarterly review.

Other Funds

The GSCPxE fund still contains ADA, SOL, MATIC, DOT, AVAX, ATOM, and ALGO in the respective market share ratio of 28.17%, 22.84%, 13.82%, 13.71%, 9.72%, 7.06% and 4.68%.

Additionally, the DeFi Fund contains Uniswap (UNI), with a share of 64.10%; Aave (AAVE), having a share of 13.91%; MakerDAO (MKR), with a market share of 10.45%; Curve (CRV), with a share of 6.06%; and Compound Finance (COMP) which has a market share of 5.48%. The data represents the compositions of both funds as of October 5.

Grayscale remains on an expansion path despite the bearish condition of the crypto market. The Crypto Basic previously reported the firm’s decision to launch a Bitcoin mining-focused investment vehicle aimed at leveraging the failing costs of mining equipment. The investment vehicle, dubbed the Grayscale Digital Infrastructure Opportunities (GDIO), was launched as a co-investment product in partnership with Grayscale’s affiliate Foundry Digital. As a mining and staking firm, Foundry Digital will oversee the day-to-day operations of the product.

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