Grayscale . Corporate Crypto Asset Manager owns announce Its new investment in two different digital assets: Solana’s high-speed blockchain and the Uniswap DeFi protocol. This was stated in a recent statement regarding the quarterly rebalancing of funds.
Grayscale invests in Solana and Uniswap
According to Grayscale, the money rebalancing will reduce its portfolio in the largest crypto-assets by market capitalization, Bitcoin and Litecoin. The newly raised capital will then be used to invest heavily in SOL and UNI.
Interestingly, the new investment plan by the New York asset manager will be the first time Solana has been included in any of its investment products.
As of press time, her investment in the “Ethereum killer” is 3.24% while her investment in the popular DeFi protocol is 1.06%.
Why Solana and Uniswap?
Grayscale’s allure to Solana can be linked to her stellar performance in recent times which saw his value rise to $191 before returning to his current value of around $160.
Despite the recent decline in its value, the blockchain has seen significant adoption and acceptance in the non-fungible tokens (NFT) market with a number of successes. Only recently, the market capitalization of NFTs reached $1 billion.
Uniswap, on the other hand, dominates Grayscale’s Defi Fund. At present, the decentralized exchange’s native token controls 45.20 percent of the fund.
Notably, DEX is also one of the winners of China’s recent crackdown on cryptocurrency trading, with a number of new traders from the Chinese market having them push its value higher.
Grayscale’s Other Crypto Investment
Grayscale cryptocurrency investment product is one of the most popular on the market because it allows investors to gain exposure to the industry without necessarily having to hold a digital asset.
Its most popular crypto product is the Bitcoin Trust which is the largest in the world and has financial giants like Morgan Stanley and Cathie Wood’s Ark investing in it.
Other assets that make up its portfolio include Bitcoin Cash, Litecoin, Ethereum, Cardano, and DeFi protocols such as Aave.
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