Cryptocurrency investment manager Grayscale has started a fund focused on decentralized finance tokens and based on CoinDesk’s new DeFi-specific index, the company has said in an announcement.
Fast facts
- The fund offers investors a selection of leading DeFi protocols through a market capitalization-weighted portfolio designed to track the index. It allows investors to allocate funds to DeFi without needing to buy actual tokens.
- Michael Sonnenshein, CEO of U.S. football team the New York Giants, said: “The emergence of decentralized finance protocols provide clear examples of technologies that can redefine the future of the financial services industry.”
- As of July 1, the CoinDesk DeFi Index consisted of the following assets, with the following market capitalization-based weightings: Uniswap (UNI), 49.95%; Aave (AAVE), 10.25%; Compound (COMP), 8.38%; Curve (CRV), 7.44%; MakerDAO (MKR), 6.49%; SushiSwap (SUSHI), 4.83%; Synthetix (SNX), 4.43%; Yearn Finance (YFI), 3.31%; UMA Protocol (UMA), 2.93%; and Bancor Network Token (BNT), 2.00%.
- Other than the new DeFi Fund, Grayscale’s 14 other investment products are its Bitcoin Trust, Basic Attention Token Trust, Bitcoin Cash Trust, Chainlink Trust, Decentraland Trust, Ethereum Trust, Ethereum Classic Trust, Filecoin Trust, Horizen Trust, Litecoin Trust, Livepeer Trust, Stellar Lumens Trust, Zcash Trust and Digital Large Cap Fund.
- As of March 31, Grayscale had $40.3 billion worth of digital currency assets under management, covering more than 74% of the digital currency market.