Grayscale Investments, a digital asset manager, recently provided an update on three of its funds: the Digital Large Cap Fund, the Defi Fund, and the Smart Contract Fund. While no new tokens were added to two of the funds, Grayscale announced the inclusion of Lido DAO’s native cryptocurrency and governance token, LDO, in the Defi Fund.

In its second-quarter update for 2023, Grayscale Investments revealed that the Digital Large Cap Fund and Smart Contract Fund remained unchanged in terms of token composition. However, the Defi Fund saw a new addition. Grayscale incorporated Lido’s LDO token into its collection of decentralized finance (defi) tokens within the Defi Fund. The digital asset manager used cash proceeds to acquire the LDO token for the fund.

LDO now holds the second-largest weight in the fund’s portfolio, with Uniswap (UNI) being the largest, accounting for 45.46% of the holdings, while LDO represents 19.04%. Following UNI and LDO in terms of weight are AAVE (11.53%), MKR (10.82%), CRV (7.03%), and SNX (6.12%).

LDO ranks as the 33rd largest cryptocurrency in terms of market capitalization among nearly 10,000 crypto assets. On July 8, 2023, LDO experienced a 2% increase against the U.S. dollar, although it has suffered a loss of more than 10% over the past 30 days. Over a six-month period, LDO is down 1% and remains 73% lower than its all-time high recorded on August 20, 2021.

With LDO now included in the fund’s portfolio, Grayscale’s Defi Fund’s assets under management (AUM) amount to $3,144,411 as of July 7.

Feel free to share your thoughts and opinions on Grayscale’s decision to add Lido’s LDO token to the Defi Fund and how it may impact the fund’s portfolio in the comments section below.

Frequently Asked Questions (FAQs) about Defi Fund

What funds did Grayscale Investments provide an update on?

Grayscale Investments provided an update on three of its funds: the Digital Large Cap Fund, the Defi Fund, and the Smart Contract Fund.

Which token did Grayscale add to the Defi Fund?

Grayscale added Lido DAO’s native cryptocurrency and governance token, LDO, to the Defi Fund.

How did Grayscale acquire the LDO token?

Grayscale utilized cash proceeds to acquire the Lido (LDO) token for the Defi Fund.

What is the weight of LDO in the Defi Fund’s portfolio?

LDO holds the second-largest weight in the Defi Fund’s portfolio, with Uniswap (UNI) being the largest.

How does LDO rank in terms of market capitalization?

LDO ranks as the 33rd largest cryptocurrency in terms of market capitalization among nearly 10,000 crypto assets.

What is the current performance of LDO?

On July 8, 2023, LDO experienced a 2% increase against the U.S. dollar, but it has faced a loss of more than 10% over the past 30 days. Over a six-month period, LDO is down 1% and remains significantly lower than its all-time high.

What is the current assets under management (AUM) of Grayscale’s Defi Fund?

With the inclusion of LDO in the fund’s portfolio, Grayscale’s Defi Fund’s assets under management (AUM) stand at $3,144,411 as of July 7.

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