Grayscale Investments Launches Defi Fund and Now Offers 15 Crypto Investment Products

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Grayscale Investments has launched a decentralized financing fund (challenge). The new challenge fund is the crypto asset manager’s 15th investment product and its second diversified product. “The emergence of decentralized financial protocols provides clear examples of technologies that can redefine the future of the financial services industry,” said the CEO of Grayscale.

Grayscale launches a decentralized financing fund

Grayscale Investments, the world’s largest digital currency asset manager, announced on Monday the launch of its all-new diversified investment product, the Grayscale Decentralized Finance Fund.

The announcement explains that the Grayscale Defi Fund “provides investors with exposure to a selection of cutting-edge challenge protocols,” adding:

The Grayscale Defi Fund is Grayscale’s fifteenth investment product and its second diversified fund offering.

Its other diversified fund, the Grayscale Large Cap Fund, recently became a reporting company with the United States Securities and Exchange Commission (SEC). The fund also recently added the cardano cryptocurrency (ADA) as the third largest component.

The newly launched challenge fund has a market capitalization weighted portfolio designed to track the Coindesk Defi index, also launched on Monday. The “index methodology includes liquid assets to challenge on a market capitalization weighted basis,” the announcement notes. The fund is now open for daily subscription by qualified individual and eligible institutional investors.

As of July 14, the fund was made up of 49.95% uniswap (UNI); aave (AAVE), 10.25%; compound (COMP), 8.38%; curve (CRV), 7.44%; makerdao (MKR), 6.49%; Sushiswap (SUSHI), 4.83%; synthetix (SNX), 4.42%; Yearn Finance (YFI), 3.31%; UMA Protocol (UMA), 2.93%; and bancor network token (BNT), 2.00%.

Components of the Grayscale Defi Fund. Source: Grayscale investments.

Grayscale Investments CEO Michael Sonnenshein commented:

The emergence of decentralized financial protocols provides clear examples of technologies that can redefine the future of the financial services industry.

The company currently has nearly $ 30 billion in assets under management. It is currently considering 31 crypto assets for investment products.

Besides the new challenge fund, Grayscale’s other 14 investment products are 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 the Digital Large Cap Fund.

Last week, the asset manager announced that the oldest bank in the United States, BNY Mellon, will provide its flagship product, the Grayscale Bitcoin Trust (GBTC), with asset management and traded funds services in stock market (ETF).

What do you think of the launch of a challenge fund by Grayscale? Let us know in the comments section below.

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