Crypto investment giant Grayscale has launched a new Decentralized Finance (DeFi) Fund in partnership with CoinDesk Indexes.
It’s the crypto asset manager’s 15th investment product and will feature 10 different assets in a market-capitalization weighted portfolio designed to track the CoinDesk DeFi Index.
As of Monday, the same day as the fund’s launch, Grayscale already has $2 million worth of assets under management in the product, according to the fund’s webpage.
The DeFi Fund is the asset manager’s attempt to offer investors access to other parts of the digital asset ecosystem, explains Grayscale Investments CEO Michael Sonnenshein in a press release.
“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.”
In an interview with CNBC, Sonnenshein adds that DeFi and the fund have interest from a “broad base” of Grayscale’s existing and prospective investors.
10 Altcoins in Grayscale’s DeFi Fund
- Uniswap (UNI), 49.95%
- Aave (AAVE), 10.25%
- Compound (COMP), 8.38%
- Curve (CRV), 7.44%
- MakerDAO (MKR), 6.49%
- SushiSwap (SUSHI), 4.83%
- Synthetix (SNX), 4.43%
- Yearn Finance (YFI), 3.31%
- UMA Protocol (UMA), 2.93%
- Bancor Network Token (BNT), 2.00%
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/sdecoret
