Grayscale Partners with CoinDesk to Launch DeFi Fund

19 July 2021 | Updated: 19 July 2021

The world’s largest cryptocurrency asset manager, Grayscale Investments, has announced that it is partnering with CoinDesk Indexes to launch the Grayscale DeFi Fund.

The latest offering from the investment giant will allow customers to get exposure to the booming decentralized finance (DeFi) industry. The Grayscale DeFi Fund will become the firm’s fifteenth product offering and its second diversified fund in the cryptocurrency space. According to the official announcement, the fund will include “leading DeFi protocols through a market-capitalization-weighted portfolio designed to track the CoinDesk DeFi Index.”

Commenting on the new development, Grayscale Investment CEO Michael Sonnenshein stated that the firm would continue to look out for offering opportunities for investors to access. Sonnenshein noted that:

“The emergence of decentralized finance protocols provides 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.”

The investment company will partner with CoinDesk to provide the DeFi index for the investment fund. The index would also set a benchmark representation of the DeFi protocols. The index will consist of market capitalization and liquidity of current DeFi projects.

DeFi Projects Currently on the Grayscale DeFi Fund

Currently, the DeFi Fund consists of ten DeFi projects, including Uniswap, Aave, Compound, Curve, MakerDAO, SushiSwap, Synthetix, Yearn Finance, UMA Protocol, and Bancor Network Token.

UNI currently accounts for half of the entire portfolio, with 49.95% of the fund held in the decentralized exchange’s native token. Aave comes in second place, dominating 10.25% of the fund, while the rest of the DeFi projects take up single-digit allocations in the fund.

While commenting on the partnership, the Managing Director of CoinDesk Indexes, Jodie Gunzberg, noted that:

“With increasing attention on the innovations within decentralized finance, it’s critical for the investment community to have tools that deliver calculated exposure to this exciting area of innovation. This collaboration offers investors the data and tools they need to gain exposure to decentralized finance into their portfolios.”

The fund is open to daily subscription by eligible individuals and institutional accredited investors.

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.