Grayscale buys into ONDO, HBAR in Q2 reshuffle, dumps DOT from portfolio

Grayscale Investments, one of the world’s largest crypto asset managers, has reshuffled its major fund lineup in Q2 2025. It added Ondo (ONDO) to its DeFi Fund (DEFG) while dropping Polkadot (DOT) from its Smart Contract Fund (GSC). However, it went longer on Cardano (ADA) and brought Hedera (HBAR) into the mix for the first time.

These altcoin moves come as Bitcoin dominance is on the rise again after its recent rally. It stood at around 64.1%. Ethereum, the biggest altcoin, covers 9.4% of the market.

The global digital assets market has surged marginally over the last day to stand at $3.38 trillion, while 24-hour trading volume remained below the $100 billion mark.

Grayscale bets big on ONDO and HBAR

As per the report, ONDO now makes up over 18% of the DeFi fund. It joined heavyweights like Uniswap (UNI) at 34.01% and Aave (AAVE) at 30.74%. The DEFG also holds Maker, Curve, and Lido. Grayscale’s move suggests that ONDO’s tokenized treasury offerings and real-world asset narrative are working.

Grayscale’s listing has sent ONDO price up by 3% in the last 24 hours. However, it is still down by almost 40% over the year-to-date metric. ONDO is trading at an average price of $0.81 at press time. Its 24-hour trading volume jumped by 6% to hit $87.45 million.

Smart Contract Fund retired Polkadot while adding Hedera to the mix. HBAR now holds 5.8% of the fund’s weight. It joined Ethereum (ETH) at 30% and Solana (SOL) at 29%. At the same time, Cardano’s share is rising. It is now the third-largest position with 18.5% weightage. 

HBAR price saw a spike of more than 7% in the last 24 hours, running up by 16% in the last 7 days. Hedera is trading at an average price of $0.17 at press time, and its 24-hour trading volume skyrocketed by 25% to hit $227 million.

Ethereum and Solana have also posted gains over the last day. ETH price jumped by 3% while Solana grew 2%.  

Grayscale’s Bitcoin fund has lost $23B

According to the report, the Grayscale Decentralized AI Fund (AI Fund) retained its list of tokens, but there were shifts in weight. Top holdings include Bittensor (TAO) at 29.10%, NEAR Protocol (NEAR) at 28.41%, and Render (RENDER) at 17.34%.

On the market side, NEAR price posted a rally of 6% in the last 24 hours. The fresh surge is still unable to provide relief from the token’s long-running decline. It is down by 53% on the YTD metric.

At the end of the day on 7/3/2025, Grayscale DeFi Fund’s Components were a basket of the following assets and weightings. $UNI $AAVE $ONDO $MKR $CRV $LDO

Learn more: https://t.co/NVmKik5XRM pic.twitter.com/UYQ820xol4

— Grayscale (@Grayscale) July 7, 2025

Grayscale has a US Bitcoin ETF under the ticker GBTC. Data shows that the fund has bled $23.34 billion since its launch. It still holds $20.03 billion worth of BTC. Bitcoin price is hovering above the $109K zone.

The investment fund also holds Ethereum Trust (ETHE) and Ethereum Mini Trust (ETH). ETHE and ETH recorded an inflow of $7.78 million and $9.35 million in the last trading session. ETHE has hemorrhaged $4.29 billion since it was listed, while ETH has posted an inflow of $759 billion.