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Grayscale Adds Solana to $494M Digital Large Cap Fund
source link: https://www.coindesk.com/business/2021/10/01/grayscale-adds-solana-to-494m-digital-large-cap-fund/
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Grayscale Adds Solana to $494M Digital Large Cap Fund
The asset manager’s bitcoin-heavy fund allocated 3.24% to SOL Friday.
Grayscale CEO Michael Sonnenshein speaks at Consensus 2018. (CoinDesk archives)
Grayscale added Solana’s namesake token and the decentralized finance token Uniswap to its large-cap crypto fund for the first time Friday.
- The company, a subsidiary of CoinDesk parent Digital Currency Group, said in a statement that its $494 million Digital Large Cap Fund closed Friday with a 3.24% SOL position.
- It “is the first time Solana (SOL) will be included in a Grayscale investment vehicle,” the statement said. It called the move part of a quarterly rebalancing.
- SOL is now the fourth-largest holding of a fund dominated by bitcoin. It gave back some gains late Friday but remained near session highs – a tick south of $160.
- The Fund also added decentralized exchange Uniswap’s native token UNI. The token will make up around 1% of the overall fund.
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