Grayscale adds Solana, Uniswap to $495M Investment Fund

$495M Investment Fund

October 3, 2021

Reading Time: 2 minutes

Solana and Uniswap are the latest addition to Grayscale’s $495M Digital Cap Fund. The crypto investment fund announced the incorporation of the two in what appears to be an initiative for a quarterly balance.

Other Digital Coins Take a Cut for Solana and Uniswap Entrance

Solana and Uniswap are calculated choices for Grayscale Digital Cap Fund, considering their market capitalization for each of the tokens has surged in recent months. Solana currently holds a market capitalization of $51.8 billion, while Uniswap is $17.3 billion.

Grayscale Digital Large Cap focuses on providing exposure to the upper 70% of the digital currency market in the form of security. It is a convenient investment vehicle that eliminates the challenges of holding digital currencies directly.

Grayscale $495M investment fund is adding Solana for the very first time to an investment vehicle. The two coins have already made their mark on the Digital Large Cap Fund. By the end of yesterday, Solana consisted of 3.24% of the Digital Large Cap Fund, while Uniswap made up 1.06%.

The dominating fund is Bitcoin with 62%, followed by Ethereum with 26%, Cardano, Chainlink, Litecoin, and Bitcoin Cash.

Speaking to Blockworks on Friday, Craig Salm, the head of legal at Grayscale said the investment vehicle intends to sell the existing fund components in proportion to their weightings and put them in Solana and Uniswap.

Grayscale crypto investment fund decreased its Bitcoin allocation by 5% since the previous rebalancing. While the allocations for the other coins also decreased by small amounts, ADA holding increased from 4.26% to 5.11%.

Liquidity and Ability to Allocate Price Made Solana the Perfect Choices

Craig added that the fund’s main focus is the investors who do not want to make a targeted bet on Bitcoin, Ethereum, or any other asset. Instead, the investors get a broad market exposure with Grayscale $495M investment fund.

Grayscale’s head of legal Craig Salm, also confirmed that apart from their market capitalization, Solana and Uniswap’s liquidity and Grayscale’s ability to allocate a price for it.

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