After running the Bitcoin Trust, Grayscale today announced the launch of the so-called DeFi Fund, which is a fund that allows you to invest in decentralized finance.
Today we’re unveiling Grayscale DeFi Fund, our second diversified investment product, which tracks the @CoinDesk #DeFi Index. Accredited Investors are now able to gain exposure to a selection of industry-leading DeFi protocols through the Fund. Learn more: https://t.co/i0hm9vrklB pic.twitter.com/QASEp9SpfK
— Grayscale (@Grayscale) July 19, 2021
It is Grayscale ‘s second diversified investment product , 15th overall, and follows CoinDesk’s DeFi Index.
Thanks to this fund, accredited investors can gain exposure to a selection of DeF i tokens , through a portfolio weighted on their market capitalization designed to replicate the CoinDesk DeFi index.
The DeFi tokens whose prices are tracked by CoinDesk’s DeFi Index as of 1 July 2021 were:
- Uniswap (UNI), 49.95%
- Aave (AAVE), 10.25%
- Compound (COMP), 8.38%
- Curves (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%
In total there are ten DeFi tokens, with the price of UNI making up almost 50% of the overall weight of the index.
The Grayscale DeFi Fund
Grayscale aims to list the shares of this new fund on a secondary market, but there is no guarantee that this will happen, particularly due to regulatory issues related to the SEC, FINRA or other regulatory bodies.
Grayscale Investments CEO, Michael Sonnenshein, has stated :
“Grayscale continues to focus on creating opportunities for investors to access exciting new elements of the digital asset ecosystem. The emergence of decentralized financial protocols provides clear examples of technologies that can redefine the future of the financial services industry. We are proud to offer investors exposure to DeFi through Grayscale’s reliable, secure and industry-leading investment product facilities. ”
CoinDesk Indexes CEO Jodie Gunzberg added:
“This partnership underscores our leadership in creating institutional-grade digital currency indices. With the growing focus on innovations in decentralized finance, it is critical for the investment community to have tools that provide calculated exposure to this exciting area of innovation. This collaboration gives investors the data and tools they need to gain exposure to decentralized finance in their portfolios. ”