DeFi
Grayscale® Digital Large Cap Fund, Grayscale® DeFi Fund,
STAMFORD, Conn., July 05, 2024 (GLOBE NEWSWIRE) — Grayscale® Investmentsthe world’s largest crypto asset manager*, and manager of the Grayscale® Digital Large Cap Fund (OTCQX:GDLC) (Large Cap Digital Fund), Grayscale® DeFi Fund (OTCQB:DEFG) (DeFi Fund) and Grayscale® Smart Contract Platform Ex-Ethereum Fund (GSCPxE Fund), today announced updated fund component weightings for each product as part of their respective Q2 2024 reviews.
No new tokens were added or removed from GDLC. As of end of day July 3, 2024, the GDLC fund’s constituents were a basket of the following assets and weightings.*
- Bitcoin (BTC), 70.46%
- Ethereum (ETH), 23.51%
- Solana (SOL), 3.86%
- XRP, 1.54%
- Avalanche (AVAX), 0.63%
No new tokens were added or removed from DEFG. As of end of day July 3, 2024, the DEFG fund’s constituents were a basket of the following assets and weightings.**
- Uniswap (UNI), 53.75%
- MakerDAO (MKR), 17.94%
- Lido (LDO), 12.68%
- Aave (AAVE), 10.58%
- Synthetix (SNX), 5.05%
In line with the CoinDesk Smart Contract Platform Select ex ETH Index, Grayscale adjusted the GSCPxE Fund portfolio by selling Polygon (MATIC) and using the proceeds to purchase existing fund constituents in proportion to their respective weightings. As a result of the rebalancing, Polygon (MATIC) was removed from the GSCPxE Fund. As of end of day on July 3, 2024, the GSCPxE Fund constituents were a basket of the following assets and weightings.**
- Solana (SOL), 65.80%
- Cardano (ADA), 14.67%
- Avalanche (AVAX), 10.70%
- Polkadot (DOT), 8.83%
Neither GDLC, DEFG, nor GSCPxE Fund generates income and all distribute fund components regularly to pay for current expenses. As a result, the amount of fund components represented by shares of each fund gradually declines over time.
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This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction in which such offer or solicitation would be unlawful, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
*Largest in terms of assets under management as of July 3, 2024
**The compositions of the GDLC, DEFG and GSCPxE Funds are evaluated on a quarterly basis to remove existing Fund components or to include new Fund components, in accordance with the index methodologies established by the index provider. The holdings and weightings of each Fund are subject to change. Investors cannot invest directly in an index.
About Grayscale® Digital Large Cap Fund
The Digital Large Cap Fund seeks to provide investors with exposure to large-cap coverage of the digital asset market through a market-cap-weighted portfolio designed to track the CoinDesk Large Cap Select Index. The Digital Large Cap Fund holds the largest and most liquid digital assets that meet certain trading and custody requirements and are classified under the CoinDesk Digital Asset Classification Standard (DACS); the weightings of each fund constituent change daily and are published approximately 4:00 p.m. New York time. Additional information about the index methodology is available at: https://www.coindesk.com/indices/dlcs/.
The investment objective of the Digital Large Cap Fund is for its shares to reflect the value of the fund components held by the Digital Large Cap Fund, less its expenses and other liabilities. To date, the Digital Large Cap Fund has not achieved its investment objective and the shares listed on OTCQX have not reflected the value of the fund components held by the Digital Large Cap Fund, less its expenses and other liabilities, but instead have traded at both premiums and discounts to that value, with variations that have sometimes been substantial.
About Grayscale® DeFi Fund
The DeFi Fund seeks to provide investors with exposure to a selection of industry-leading decentralized finance platforms through a market-cap-weighted portfolio designed to track the CoinDesk DeFi Select Index. The DeFi Fund holds the largest and most liquid digital assets that meet certain trading and custody requirements and are categorized within the DeFi sector as defined by the CoinDesk Digital Asset Classification Standard (DACS); the weightings of each fund component change daily and are published approximately 4:00 p.m. New York time. Additional information on the CoinDesk DeFi Select Index methodology can be found at: https://www.coindesk.com/indices/dfx/.
The investment objective of the DeFi Fund is for its shares to reflect the value of the fund components held by the DeFi Fund, less its expenses and other liabilities. To date, the DeFi Fund has not achieved its investment objective and the shares listed on the OTCQB have not reflected the value of the fund components held by the DeFi Fund, less the DeFi Fund’s expenses and other liabilities, but instead have traded at both premiums and discounts to that value, with variations that have sometimes been substantial.
About Grayscale® Ex-Ethereum Fund Smart Contract Platform
The GSCPxE Fund seeks to provide investors with exposure to a selection of industry-leading smart contract platforms through a market-cap-weighted portfolio designed to track the CoinDesk Smart Contract Platform Select Ex ETH Index. The GSCPxE Fund holds the largest and most liquid digital assets, excluding ETH, that meet certain trading and custody requirements and are classified within the smart contract platform sector as defined by the CoinDesk Digital Asset Classification Standard (DACS); the weightings of each fund constituent change daily and are published approximately 4:00 p.m. New York time. Additional information about the CoinDesk Smart Contract Platform Select Ex ETH Index methodology is available at: https://www.coindesk.com/indices/scpxx/.
Grayscale intends to attempt to list the shares of this new product on a secondary market. However, there can be no assurance that such an attempt will be successful. Although the shares of certain products have been approved for trading on a secondary market, investors in this product should not assume that the shares will ever obtain such approval due to a variety of factors, including questions that regulators such as the SEC, FINRA or other regulatory agencies may have regarding the product. Accordingly, shareholders of this product should be prepared to bear the risk of investing in the shares indefinitely.
About Grayscale Investments®
Grayscale empowers investors to access the digital economy through a suite of forward-thinking investment products. Founded in 2013, Grayscale has a proven track record and deep expertise as the world’s largest crypto asset manager. Investors, advisors and allocators turn to Grayscale’s private placements, public offerings and ETPs for single-asset, diversified and thematic exposure. Grayscale products are distributed by Grayscale Securities, LLC (member FINRA/SIPC).
Media Contact
Jennifer Rosenthal
press@grayscale.com