A digital asset investment firm, Grayscale Investment, has added XRP and AVAX to its Digital Large Cap Fund while dropping MATIC as a part of updating weightings for its different digital asset funds.
According to the official release, Grayscale updated component weightings in each of its funds – including the Grayscale Digital Large Cap Fund (GDLC), the Grayscale DeFi Fund (DEFG), and the Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPExE) – for the fourth quarter review of 2023.
The firm shared that it has adjusted the GLDC portfolio by selling the existing Polygon (MATIC) holding and purchasing Avalanche (AVAX) and Ripple (XRP) using cash. Grayscale did not give a specified reason behind removing MATIC but said “It’s a result of rebalancing.”
As of January 4, the GLDC portfolio holds assets including Bitcoin (BTC) with the highest weightage of 69.15% and Ethereum (ETH), with 21.90%, while SOL, XRP, ADA, and AVAX have a weightage of 3.65%, 2.54%, 1.62%, and 1.14%, respectively.
Grayscale also adjusted its DEFG portfolio by removing the Curve DAO token (CRV) while not making any changes to its GSCPxE Fund.
“Neither GDLC, nor DEFG, nor GSCPxE Fund generate any income, and all regularly distribute Fund Components to pay for ongoing expenses,” said the firm in a release. “Therefore, the amount of Fund Components represented by shares of each fund gradually decreases over time.”
Also Read: Form 8-A Filing by Grayscale Hints at Bitcoin ETF Breakthrough
