Grayscale, the world’s largest crypto asset manager, is expanding its products with a new fund offer. Grayscale adds a new one to its crypto product offering with the DeFi fund. The crypto asset manager is known for offering Bitcoin and other altcoin mutual funds. The DeFi fund will be the company’s first entry into the highly popular defi ecosystem.
The Grayscale DeFi fund will be the company’s second diversified fund offering. The fund will track the Coindex DeFi Index, which consists of:
- Uniswap (UNI), 49.95%
- Aave (AAVE), 10.25%
- Compound (COMP), 8.38%
- Curve Dao Token (CRV), 7.44%
- MakerDAO (MKR), 6.49%
- SushiSwap (SUSHI), 4.83%
- Synthetix (SNX), 4.43%
- Yearn.finance (YFI), 3.31%
- UMA (UMA), 2.93%
- Bancor (BNT), 2.00%
The fund offers accredited investors the opportunity to participate in the leading DeFi market. Grayscale DeFi funds are open to daily subscriptions for eligible investors. Shares of the funds will be issued on a secondary market. It will be the sixteenth overall investment product released by Grayscale.
For the new development, Grayscale CEO Michael Sonnenshein used the following statements:
“Grayscale remains focused on creating opportunities for investors to access new and exciting parts of the digital asset ecosystem. The emergence of decentralized finance protocols provides clear examples of technologies that could redefine the future of the financial services industry. We are proud to offer DeFi to investors through Grayscale’s trusted, secure and industry-leading investment product structures.”
In the absence of any regulated investment products, Grayscale has become an investment option for a few institutional investors. The digital asset manager is working to turn his flagship investment product, Grayscale Bitcoin Trust, into a Bitcoin ETF in the near future, and CEO Sonnenshein believes approval is a matter of “when” rather than “if”. He is confident that the SEC will eventually approve the Bitcoin ETF despite the current delays.