Grayscale’s DeFi Fund Began Trading on OTC Markets

Grayscale’s DeFi Fund- $DEFG

According to Grayscale DeFi Fund, the fund’s shares are among the first securities solely invested in, and deriving value from, a basket of decentralized finance in the form of a security while avoiding the challenges of buying, storing, and safekeeping DeFi directly.

DEFG will provide exposure to a diverse selection of digital assets that meet the fund’s construction criteria. It will include $UNI, $AVE, $MKR, $CRV, and $COMP, among others. DEFG is Grayscale’s 15th investment product that is trading on OTC Markets, as per the new announcement from the digital asset manager.

As per its website, Grayscale DeFi fund currently has $3.2 Million worth of assets under management and is down 72.60% since its inception date in July 2021. Grayscale DeFi fund’s bucket filled with 69.06% UNI, 12.84% AAVE, 8.84% MKR, 5.03% CRV and 4.23% COMP.

DEFG tracks the CoinDesk DeFi Select Index (DFX). It is rebalanced quarterly and allows investors to avoid the challenges of buying, storing, and safekeeping digital currencies directly.

In between the current crypto bear market, the digital asset giant started trading on OTC Markets. OTC Markets Group is an American financial market. It provides price and liquidity information for almost 10,000 over-the-counter securities. Its traded securities are organized into three markets to inform investors of opportunities and risks: OTCQX, OTCQB and Pink.

Grayscale’s Head of Investor Solutions, Rayhaneh Sharif-Askary, said “We believe that investors deserve access to the digital currency ecosystem through secure products, and are excited to now offer them exposure to the evolving decentralized finance sub-sector through a publicly-quoted security.”

According to CoinMarketCap, UNI is trading at $6.04 at time of writing and is down 1.41% in the past 24 hours. AAVE is priced at $61.28 and is down nearly 0.90%. MKR is trading at $612.32 and is down 0.66%. CRV is trading at $0.640 and is down 0.61%. COMP is also down by 1.68% at $39.33.

Additionally, GBTC was trading at a discount rate of 47.3%, according to data from crypto index provider TradeBlock. And hit a record-high discount rate of around 50% relative to the price of bitcoin (BTC) on Thursday.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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