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News Report

Grayscale Investments Reduces Portfolio To Purchase SOL and UNI

2 mins
Updated by Ryan James

In Brief

  • Grayscale Investments announced its “quarterly rebalancing of funds” yesterday, including a selective portfolio reduction.
  • The company reduced its investments in some areas and used the resulting funds to invest in Solana (SOL) and Uniswap (UNI).
  • It follows news from July 2021, when Grayscale announced that it would be adjusting the portfolio of its Digital Large Cap Fund to purchase Cardano (ADA).
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Grayscale has released an announcement concerning its “quarterly rebalancing of funds” for its Digital Large Cap Fund and also its DeFi Fund.

The rebalancing includes the reduction of these funds’ portfolios in LTC and BTC, to release capital that has subsequently been used to invest in Solana (SOL) and Uniswap (UNI) in large proportions. This is the first time that Solana has been included in any product offered by Grayscale Investments. Now, SOL and UNI comprise 3.24% and 1.06% of the funds, respectively.

It also follows news from July 2021, when Grayscale announced that it would be adjusting the portfolio of its Digital Large Cap Fund to purchase Cardano (ADA).

What are Grayscale Investments?

Grayscale Investments is a New York-based crypto asset manager. Its Bitcoin fund ‘Grayscale Bitcoin Trust’ has proven highly popular with its major investors, including Morgan Stanley.

On September 6, 2021, it was reported that Grayscale’s Bitcoin fund had attracted $32 billion alone – making the combined value of Assets Under Management (AUM) by the firm reaching $46.8 billion. This number is up from a recorded $41.6 billion in mid-August, meaning a rise of AUM value by $5.2 billion in under only one month. Meanwhile, the Grayscale Ethereum Trust reached a record of $12.1 billion AUM.

Grayscale has also been a part of the popular discussion recently due to the confirmed rumors of a forthcoming Bitcoin ETF product release, which Grayscale claims to be a “when” rather than an “if.” In support of this, it has been reported that Grayscale has ramped up its SEC compliance 

Founded in 2013, Grayscale Investments offers highly diversified investment products. A range of products that allocate funds across different asset classes. On its official website, it claims to be a trusted and secure investment fund management company.

ETF stands for ‘Exchange Traded Fund’. ETFs are officially recognized as a type of security, and they are a security, and they serve to track indexes, sectors, commodities, and other assets. According to Investopedia, ETFs “tend to be more cost-effective and more liquid when compared to mutual funds.”

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