Grayscale Updates Crypto Fund Allocations, Drops Polygon (MATIC)

• The Curve DAO (CRV) token is no longer part of Grayscale’s DeFi Fund’s portfolio.
• The GSCPxE Fund still includes MATIC, even if it was withdrawn from another portfolio.

Avalanche (AVAX) and XRP were added to three of Grayscale’s cryptocurrency funds, while tokens like Polygon (MATIC) were removed, as announced on January 5th. Funds like the Digital Large Cap (GDLC), Smart Contract Platform Ex-Ethereum (GSCPxE), and DeFi are affected by the new allocations, which are a component of Grayscale’s quarterly review.

Moreover, the Curve DAO (CRV) token is no longer part of Grayscale’s DeFi Fund’s portfolio, among other adjustments. The GSCPxE Fund still includes MATIC, even if it was withdrawn from another portfolio. Also, no tokens have been added or deleted from this fund.

Multiple Assessments

Furthermore, as market circumstances, risk assessments, and investment goals change, the fund’s management reevaluate and rebalance the weightings to maximize the fund’s performance. Quarterly intervals are common for this procedure.

To establish its fund benchmarks, Grayscale employs the technique of CoinDesk DeFi Select Index. The crypto winter has had a detrimental effect on funds like its DeFi Fund, which aims to provide exposure to decentralized financial markets.

As part of its efforts to convert its over-the-counter Grayscale Bitcoin Trust into a listed BTC ETF, the crypto asset management is requesting regulatory clearance for a spot Bitcoin ETF in the U.S. The decision is anticipated to be announced by the SEC on January 10th.

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