Grayscale Investments, the world’s largest digital currency manager, announced the launch of a grayscale diversified financial fund, their latest diversified investment product. CEO of Grayscale, Michael Sonnenshein noted that the emergence of decentralized financing protocols provides clear indications of future stocks. He mentioned that the Decentralized Finance Protocol is a revolutionary game changer and that this technology is changing the way financial institutions conduct their business.
Starting the program Grayscale The DeFi Fund has made it clear that this is their 15th product offering to investors and also another with a wide range of fundraising. The DeFi fund basically offers investors a series of leading decentralized financing protocols.
The Grayscale Large Cap Fund, another grayscale Grayscale fund, recently changed its focus to transform into a reporting company with the SEC or the U.S. Securities and Exchange Commission. The large cap in gray has also added the cryptocurrency of the popular Cardano. Also known as ADA as their third largest element.
This was launched recently DeFi the fund’s portfolio is market capitalized. It is also designed to track Coindesk’s decentralized financial index, which was also released on Monday. The grayscale indicated that the methodology of the index is designed to describe liquid diversified financial assets classified on the basis of market value weight. However, the fund is now open to all and ready to be used on a daily basis for eligible individuals and also for accredited investors from an institutional background.
According to the latest reports based on 14 July 2021, the fund consisted of:
- Uniswap or UNI with weight 49.95%
- Ghost or Ghost by weight 10.25%
- Compound Finance or COMP by weight 8.38%
- Curve or CRV with weight 7.44%
- MakerDAO or MKR 6.49%
- SushiSwap or SUSHI with a weight of 4.83%
- Synthetic or SNX weight 4.42%
- Yearn Finance or YFI with a weight of 3.3%
- UMA protocol or UMA with 2.93% weight
- Bancor Network Token or BNT weight 2.00%
The company now holds $ 30 billion in assets. Currently, they are willing to consider cryptographic products in investment services.
Sonnenshein noted that their companies had seen increasing interest and growing demand for cryptocurrencies in a decentralized financing ecosystem, especially among their current investors. The CEO therefore argued that this was the indicator that led Grayscale to launch its own institutional rating index and diversified financial fund.
He also noted that developing shades of gray, broadening their vision to become the reporting suit of the U.S. Securities and Exchange Commission, is a very important task. The reason for this decision is to ensure that Grayscale can take this step further and to ensure that they can provide their customers and investors with a higher and better level of disclosure and reporting in addition to the very strict mandatory guidelines already followed in their products. .
In a recent announcement, Grayscale has also made it pretty obvious that their vision is to turn their cryptographic products into listed funds or ETFs and that’s how the products are designed, with that in mind. According to Grayscale, becoming a supplier to the SEC (US Securities and Exchange Commission) is the final step for their products before being converted into listed funds (ETFs).
In addition to the new diversified financial fund, Grayscale has fourteen other products. They are Bitcoin Trust, Bitcoin Cash Trust, BasicAttention Token Trust, Chainlink Trust, Ethereum Trust, Decentraland Trust, Horizon Trust, Ethereum Classic Trust, Filecoin Trust, Stellar Lumens Trust, Livepeer, Litecoin Trust, Digital Large Cap Fund and Zcash Trust.
Just last week, the Grayscale Treasurer announced that BNY Mellon, the oldest bank in the United States, will supply one of its flagship products, The Grayscale Bitcoin Trust (GBTC), with the ETF and asset management services.