Solana and Uniswap Enter Large-Cap Fund Through Grayscale Investments

  • 10/06/2021
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  • Grayscale’s AUM was $41.5 billion as of Oct. 1. 
  • The rebalance shows how the crypto market values Solana.

Grayscale Investments revealed the quarterly rebalance of its two diversified portfolios, the large-cap fund, and the DeFi fund. They are Uniswap and Solana. This is the first time Solana (SOL) has been featured in a Grayscale fund.

Furthermore, the firm sold specific existing components and utilized the cash to buy Solana (SOL) and Uniswap (UNSW) (UNI).  This was also Uniswap’s first entry into the large-cap fund. In any case, the token since July has been in the Grayscale DeFi Fund.

Uniswap (UNI), 1.06 percent; Chainlink (LINK), 0.82 percent; Bitcoin (BTC), 62.19 percent and litecoin (LTC), 0.77 percent, made up the large-cap fund at the close of the day on Oct. 1.

Solana and Uniswap joined Cardano (ADA), which was added to the large-cap fund in July. Moreover, no new tokens were contributed to the Grayscale Defi Fund.

Grayscale’s AUM was $41.5 billion as of Oct. 1. Furthermore, the company also offers single asset funds in bitcoin, bitcoin cash, basic attention token, Chainlink, Ethereum, Ethereum classic, and others. The company also offers single asset funds in bitcoin, bitcoin cash, basic attention token, Chainlink, Ethereum, Ethereum classic, and others.

Grayscale said:

“[This is] the first time Solana (SOL) will be included in a Grayscale investment vehicle.”

Solana on the Rise

The rebalance shows how the crypto market values Solana. The Solana blockchain is a fast, low-cost competitor to Ethereum, Cardano, Polkadot, and Binance Smart Chain.

Solana’s price rose with its fame. Moreover, starting this summer, the coin rose to $191 in mid-September before dropping to $161 now. Furthermore, Solana has a market value of $48 billion, and Solana-based NFTs just reached $1 billion.

The rebalance also indicates Bitcoin’s decline in dominance. In April, the fund had 79.8% Bitcoin and just 17% Ethereum. Bitcoin’s market cap dominance has slipped from 69% in April to 42% now.

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