Grayscale Removes Bancor (BNT) And Universal Market Access (UMA) From Its DeFi Fund

Name	Symbol	Market	Market Cap ($)	Algorithm
Uniswap	UNIUSD	Crypto	5,223,603,002	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Uniswap

UNIUSD

Crypto

5,223,603,002

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.060	0.87%	6.95	6.94	6.94

Price Change

Price Change %

Current Price

Bid Price

Offer

0.060

0.87%

6.95

6.94

High Price	Low Price	Open Price	Prev. Close	52 Week Range
7.16	6.73	6.91	6.89	3.59 - 17.03

High Price

Low Price

Open Price

Prev. Close

52 Week Range

7.16

6.73

6.91

6.89

3.59 - 17.03

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	08:18:00	65.33	6.95	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

08:18:00

65.33

6.95

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,205,109.11	173,104.89	UNI	UNIEUR	UNIGBP	UNIBTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,205,109.11

173,104.89

Grayscale Removes Bancor (BNT) And Universal Market Access (UMA) From Its DeFi Fund

07/01/2022 7:00pm

NEWSBTC

The Grayscale Investment manager undertakes another phase of balancing its Grayscale DeFi fund. This round of rebalance inculcate the adjustment of the project’s Digital Large Cap Funds. This move marks its second balancing process after its launch in July 2021. An announcement on January 3 revealed the in-depth adjustments to Grayscale’s two funds. The first rebalancing employed the Flexa payment network’s native collateral coin. Related Reading | Could Kazakhstan Turmoil Cause Another Bitcoin Hash Crash? Hence, Grayscale DeFi Fund’s weighting was rebalanced with the addition of AMP. Conversely, the rebalancing process led to the removal of Universal Market Access (UMA) and Bancor (BNT). Though Grayscale created some adjustments to its funds’ weightings, the Grayscale Digital Large Cap Fund (GDLC) suffered no alteration to its token list. According to Grayscale’s announcement, the rebalancing process is the time to include AMP within a Grayscale investment vehicle. Using its native token, Flexa can collateralize crypto payments and engage in fiat settlements. Thus, merchants and other users could quickly receive cryptocurrencies without delays. Significance Of Grayscale Rebalancing Process Following this second rebalancing process, the addition of AMP brings the number of crypto assets within the Grayscale DeFi Fund to nine in the DeFi ecosystem. Also, the alteration to the Grayscale Fund reflects the changes on the DeFi Index (DFX) of CoinDesk. Among the components of crypto assets that made the Fund, the highest weighting goes to Uniswap (UNI) with 42.33%. The newly added AMP takes up 7.39% of the Fund’s weighting. Having its popularity as Grayscale Bitcoin Trust, Grayscale now has about $30.1 billion assets under management (AUM). The share trading at $34.27 shows a 23% up from July 14, 2021, and a 59.16% up within the last 12 months. The share price of Grayscale DeFi Fund at the press time is $5.56. This depicts an 11.2% rise from its launch price of $5 on July 14, 2021. Moreover, the Fund’s assets under management as of its launch period were $11.6 million with a share outstanding of 2.08 million. Related article | Only In Crypto: A Croissant Breaks Down How GameStop & NFTs Will Boost Ethereum The ‘s performanceGrayscale Bitcoin Trust’s performance and its DeFi Funds is highly above the DeFi Pulse Index (DPI), which is the biggest retail DeFi Index based on the market cap from July 14. However, despite the huge trading volume of the DPI, it still indicates a dip of about 2% within the same interval. Among all spot Bitcoin ETFs and Corporations, Grayscale possessed the most significant upsurge of BTC holdings through 2021. By the end of the year, the Fund accrued 645,199 BTC. This explains 71% of the corporate market and spot ETF BTC holdings. Featured image from Pexels, Charts from TradingView.com

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