Grayscale Removes These 5 Cryptos From Its Large Cap Fund

The world’s largest digital currency asset manager has released an update of its Fund Components in respect of the second quarter of 2022. However, the organisation has removed some crypto tokens from its portfolio.

Grayscale fund removes 5 cryptos

In the release, Grayscale mentioned that in accordance with the Large Cap Select Index methodology it has removed Bitcoin Cash, Chainlink, Litecoin, Polkadot and Uniswap. This has been done in order to rebalance it.

The firm has also sold some of the tokens from the pool. Meanwhile, it added that no new tokens have been included in the fund.

As of now, the Digital Large Cap Fund’s components stand as Bitcoin (BTC), 68.88%, Ethereum (ETH), 25.22%, Cardano (ADA), 2.71%, Solana (SOL), 2.23% and Avalanche (AVAX), 0.96%.

According to the data, Assets under management of the fund stand at $201.3 million. However, it is trailing by 45.79% over the past 12 months. Meanwhile, it is still up by 26.8% since its inception.

Meanwhile, the world’s largest digital asset manager has jumped into a heavy tussle with the US Securities and Exchange Commission. The watchdog rejected Grayscale’s prospective spot bitcoin exchange-traded pool proposal. However, the organisation filed went to file the lawsuit on the same day.

As per reports, Grayscale asked the court to review the SEC’s order in the filing. The firm earlier mentioned that they were already prepared to sue the authority in case of rejection.

DeFi funds removes YFI

The release added that the firm has also adjusted its DeFi Fund’s portfolio by selling the fund components. To rebalance the fund, they have removed Yearn Finance (YFI) from the fund. However, no new tokens were added to it.

The Fund components are as Uniswap (UNI), 56.35%, MakerDAO (MKR), 13.49%, Aave (AAVE), 12.44%, Curve DAO Token (CRV), 7.48%, Amp (AMP), 5.52% and Compound (COMP), 4.72%.

Meanwhile, the global crypto market has jumped by 2% over the past day. The 24 hour trading market volume has jumped 38.70% to stand at $76.74 billion.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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