Grayscale launched an institutional-grade DeFi fund and index
The world’s largest digital asset manager, Grayscale Investments and the most influential platform CoinDesk Insexes have come together to announce the launch of Grayscale Decentralised Finance (DeFi) on 19th July.
The launch of a new DeFi product by Grayscale shows the immense interest of investors in Decentralised Finance with the growing popularity of DeFi. The Grayscale fund provides interested investors a manifestation of the much acknowledged DeFi protocols through a market capitalization portfolio which is specifically created to track the CoinDesk DeFi index.
Grayscale is the largest digital currency manager. Grayscale currently manages assets worth more than $28 billion and with its investment products, it provides access to digital currency in the form of security.
On the other hand, CoinDesk is an influential platform created to influence people to engage in the transformation of the financial system and motivating more people to join the cult by educating them and providing accurate data.
Both these companies are wholly-owned subsidiaries of Digital Currency Group.
The CEO of Grayscale Investments, Michael Sonnenshein stated, “Grayscale continues to focus on creating opportunities for investors to access new, exciting parts of the digital asset ecosystem”. This is officially Grayscale’s 15th investment product and 2nd fund offering. He further added, “The emergence of decentralized finance protocols provide clear examples of technologies that can redefine the future of the financial services industry. We’re proud to offer investors exposure to DeFi through Grayscale’s trusted, secure, and industry-leading investment product structures.”
Under this index, we have the following tokens in the mentioned proportion.
- Bancor Network Token (BNT), 2.00%
- UMA Protocol (UMA), 2.93%
- Yearn Finance (YFI), 3.31%
- Synthetix (SNX), 4.43%
- SushiSwap (SUSHI), 4.83%
- MakerDAO (MKR), 6.49%
- Curve (CRV), 7.44%
- Compound (COMP), 8.38%
- Aave (AAVE), 10.25%
- Uniswap (UNI), 49.95%
CoinDesk plays the role of providing a broad benchmark representation of the DeFi protocols. With CoinDesk’s index methodology, grayscale can include liquid DeFi assets on its market capitalization portfolio. The managing director of CoinDesk, Jodie Gunzberg believes that the partnership between CoinDesk and Grayscale can result in creating an institutional grade digital currency index.
The fund is now open for daily subscription by eligible individual and institutional accredited investors – Grayscale.