Crypto Giant Grayscale Adds Solana and Uniswap to Digital Large Cap Fund Amid Quarterly Rebalance
Digital asset giant Grayscale is adding smart contract platform Solana (SOL) and decentralized exchange Uniswap (UNI) to one of its crypto investment products.
In a new press release, Grayscale says it added SOL and UNI to its Digital Large Cap Fund amid a quarterly rebalancing of crypto assets.
The crypto asset manager, which is the largest of its kind with more than $41.50 billion in digital assets under management, says that it had to sell certain amounts of assets from the Digital Large Cap Fund and used the proceeds to make room for Solana and Uniswap. As of October 1st, Solana is the fourth largest component of the fund with a 3.24% weighting. Uniswap comes in fifth with a 1.06% allocation.
Other crypto assets included in the portfolio are Bitcoin (62.19%), Ethereum (26.08%), Cardano (5.11%), Chainlink (0.82%), Litecoin (0.77%) and Bitcoin Cash (0.73%).
Digital asset manager CoinShares reports that Solana led the altcoin space in terms of institutional capital inflows for the month of September. According to CoinShares, SOL has seen at least $59 million in monthly institutional inflows as of September 27, dwarfing Ethereum’s $35.10 million.
CoinShares also reported that institutional investors essentially shrugged off Solana’s recent network outage last month, pouring capital into SOL rather than being cautious.
“This suggests investors were happy to shrug off the attack, seeing it as teething problems rather than something more inherent with the network.”
At time of writing, Solana is trading at $174, while Uniswap is changing hands at $27.00, according to CoinGecko.
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