2 years ago
On July 7, 2023, the integer plus manager Grayscale Investments published an update connected 3 of its funds — the Digital Large Cap Fund, the Defi Fund, and the Smart Contract Fund. Although nary caller tokens were added to 2 of the funds, Grayscale revealed that it added Lido DAO’s autochthonal cryptocurrency and governance token, LDO, to the Defi Fund.
LDO Added to Grayscale’s Defi Fund
Grayscale Investments, the integer plus manager, announced its second-quarter 2023 update, which covers money rebalancing and a caller token summation to the Defi Fund. The Digital Large Cap Fund and Smart Contract Fund experienced nary changes successful presumption of added oregon removed tokens.
Nonetheless, Grayscale disclosed successful the update that it included Lido’s LDO token successful the assortment of decentralized concern (defi) tokens held wrong the Defi Fund. The integer plus manager utilized currency proceeds to get the lido (LDO) token for the fund.
LDO holds the second-largest value successful the fund’s portfolio of coins, with uniswap (UNI) being the largest, representing 45.46% of the fund’s holdings, portion LDO present accounts for 19.04%. Following UNI and LDO successful presumption of value are AAVE (11.53%), MKR (10.82%), CRV (7.03%), and SNX (6.12%).
LDO ranks arsenic the 33rd largest marketplace capitalization retired of astir 10,000 crypto assets wrong the crypto economy. On Saturday, July 8, 2023, LDO accrued by 2% against the U.S. dollar, but it has experienced a nonaccomplishment of much than 10% implicit the past 30 days.
Looking astatine six-month statistics, LDO is down 1%, and it remains 73% little than the all-time precocious recorded connected August 20, 2021. Currently, with the inclusion of LDO successful the fund’s portfolio, Grayscale’s Defi Fund’s assets nether absorption (AUM) basal astatine $3,144,411 arsenic of July 7.
What are your thoughts connected Grayscale’s summation of Lido’s LDO token to the Defi Fund and its interaction connected the fund’s portfolio? Share your thoughts and opinions astir this taxable successful the comments conception below.
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