The company performs periodic rebalancing of its Grayscale digital large cap fund (GDLC). The proportions change slightly, but there are no major changes to the overall structure of the portfolio.
Grayscale adjusts its GDLC: the leading trio remains unchanged
October 01, 2021, Grayscale Investments made known through press release , the new ratio of cryptomonnaies included in the digital large cap fund Grayscale after the last adjustment of the latter. Solana (SOL) and Uniswap (UNI) have respective shares of 3.24% and 1.06% . Cardano (ADA) now represents 5.11% of the portfolio, compared to 4.26% when the GDLC readjusted in July 2021 . The ADA continues to occupy third place .
Bitcoin (BTC) and Ether (ETH) weighing 62.19% and 26.08% of GDLC respectively , remain the major cryptocurrencies in the portfolio. LINK, Bitcoin Cash (BC) and Litecoin (LTC) represent only 2.32% of GDLC , a percentage down from 2.88% following the rebalancing of July 2021.
Grayscale: a giant of digital assets for institutions
The Grayscale digital large cap fund allows investors to gain exposure to 70% of cryptocurrencies with the largest market capitalizations . The fund is updated quarterly, but the cryptocurrency weights are adjusted daily.
Grayscale thus offers the Grayscale Bitcoin Trust (GBTC) alongside the GDLC, to offer indirect exposure to cryptocurrencies to institutional investors. The GBTC counts traditional financial giants such as the Morgan Stanley Europe Opportunity Fund among its clients . The investment bank owned 58,116 GBTC shares as of July 31, 2021, an increase of 105% from the number of shares held in April 2021.
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The newsletter Digital Asset Funds flow Weekly 4 October 2021 Coinshares indicates that Grayscale is the largest manager of digital assets for institutional, with 71% of total assets under management in the sector .
These readjustments are made in a context of a bullish recovery in Bitcoin which is close to $ 50,000 , after a bearish month of September 2021. The final quarter could – conditional is appropriate – be marked by another bullish wave in Bitcoin, dragging other major altcoins up or down in its wake. The magnitude of the last GDLC adjustment in 2021 could testify to the degree of upheaval in the markets over the past 3 months.