 Blockchain and Uniswap (UNI) to its large-cap crypto fund){kind=link}
New york based Grayscale Investments announced in a press release that they added two new assets Solana (SOL) Blockchain and Uniswap (UNI) to its large-cap crypto fund for the first time on Friday.
As per the statement,
“This announcement follows the July 2021 news that Grayscale adjusted the Digital Large Cap Fund’s portfolio and purchased Cardano (ADA), and (this) is the first time Solana (SOL) will be included in a Grayscale investment vehicle.”
Solana displayed massive growth over time and it was no shocker that investors have been seeing value in the digital asset. Moreover, Grayscale has been expanding its large-cap crypto fund by adding the coins witnessing massive demand.
What is Solona (SOL) AND Uniswap (UNI)?
SOLONA (SOL)
Solana is the fastest blockchain in the world and the fastest growing ecosystem in crypto, with over 400 projects spanning DeFi, NFTs, Web3 and more, Solona promising faster operation and lower transaction fees. It is a PoS (proof of stake) blockchain, which makes it more environmentally friendly than PoW (proof of work) blockchains such as Bitcoin. Its native cryptocurrency is also called Solana and has the ticker SOL. Solona is also known as the rival to the Ethereum Blockchain.
Uniswap (UNI)
Uniswap is a decentralization finance protocol that is used to exchange Cryptocurrency. The protocol facilitates automated transactions between cryptocurrency tokens on the Ethereum Blockchain through the use of smart contracts. The Uniswap Protocol is governed by a decentralized community of UNI token holders and their delegates who propose and vote on upgrades to the protocol.
Fund Allocation
After adding the Solona Blockchain (SOL) and Uniswap (UNI) , The Grayscale investment portfolio comprises of the following digital assets.
– Bitcoin (BTC), 62.19%
– Ethereum (ETH), 26.08%
– Cardano (ADA), 5.11%
– Solana (SOL), 3.24%
– Uniswap (UNI), 1.06%
– Chainlink (LINK), 0.82%
– Litecoin (LTC), 0.77%
– Bitcoin Cash (BCH), 0.73%
Grayscale investments was not the only asset manager that noted the potential of Solana. Recently, rival Osprey Funds Launched a Solana trust product for private placement. The product will offer investors exposure to SOL and was currently available to accredited investors for a subscription with a $10,000 investment.
The amount of Fund components represented by shares of each fund gradually decreases over time, as Grayscale uses the Fund components to pay for ongoing expenses.