Grayscale Launches its First Defi Fund

Grayscale, the world’s largest crypto asset manager is expanding its crypto product offering with its new Defi Fund, the first of its kind from the firm. The crypto asset manager is well known for offering Bitcoin and other altcoins investment funds, but this would mark their first entry in the highly popular defi ecosystem.

The Grayscale Defi Fund would be the second diversified fund offering from the company. The new fund would track the Coindex Defi Index that comprises of

  • 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%

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The fund offers accredited investors exposure to the leading Defi market. The funds are open for daily subscriptions for eligible investors.  The shares of the funds would be launched on a secondary market. It will be the sixteenth overall investment product released by Grayscale.

Grayscale Investments CEO Michael Sonnenshein said,

“Grayscale continues to focus on creating opportunities for investors to access new, exciting parts of the digital asset ecosystem. 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.”

Grayscale Continues its Crypto Expansion

Grayscale has turned out to be a go-to investment option for several institutional investors in absence of any regulated investment product. The digital asset manager is working to convert its flagship investment product the Grayscale Bitcoin Trust into a Bitcoin ETF in near future and CEO Sonnenshein believes the approval is a matter of “when” rather than “if.” He is confident that the SEC would eventually approve the Bitcoin ETF despite current delays.

The US SEC has postponed its decision on three Bitcoin ETFs until now and while several more are pending approval. The chief regulatory body in the US had earlier rejected all ETF proposals back in 2017-18 citing small market size. Grayscale also got third approval from SEC for its $GDLC fund only last week, making it their third SEC reporting product.

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