- Grayscale Investments has now added Solana and Uniswap tokens to its Digital Large Cap Fund.
- It sold a certain proportion of the fund’s portfolio to purchase the new cryptos.
- The total AUM has also risen to over $41 billion amid the green market on October 1.
Grayscale Investments, the leading digital currency asset manager, has adjusted and added Solana (SOL) and Uniswap (UNI) tokens to its “Digital Large Cap Fund,” which was worth over $494 million as of October 1. Investors of the fund now have exposure to the price movements of the newly-added cryptocurrencies.
Per the announcement, the company manager purchased the Solana and Uniswap crypto using the proceeds realized from “selling certain amounts of the existing Fund Components in proportion to their respective weighting.”
The Digital Large Cap Fund is an investment vehicle that provides investors access and exposure to the top digital currencies by market capitalization. This is probably the third time the company has added a new cryptocurrency to the fund’s portfolio this year. The fund now comprises eight digital currencies, which includes Bitcoin (62.19%) Ethereum (26.08%), Cardano (5.11%), Solana (3.24%), Uniswap (1.06%), Chainlink (0.82%), Litecoin (0.77%), and Bitcoin Cash (0.73%).
The addition of Solana and Uniswap tokens to the Grayscale fund can result in more demand, which possibly increases prices. At the time of writing, each coin was up by 10% and 4.5%, respectively, within the last 24 hours.
Grayscale’s AUM surges to $41.5 billion
Following the uptick in the crypto market on October 1, Grayscale’s total asset under management surged to over $41.5 billion, which is a significant increase compared to the $38.7 billion AUM recorded on September 30. The Grayscale Trust Bitcoin holds the lion’s share of the AUM, accounting for $29.9 billion.
Other top cryptocurrencies include Ethereum ($9.8 billion), Ethereum Classic ($610 million), Litecoin ($250 million), etc.