Grayscale Adds Lido’s LDO Token to Defi Fund, Token Becomes Second-Heaviest in Fund’s Basket

On July 7, 2023, the digital asset supervisor Grayscale Investments revealed an replace on three of its funds — the Digital Large Cap Fund, the Defi Fund, and the Smart Contract Fund. Although no new tokens had been added to 2 of the funds, Grayscale revealed that it added Lido DAO’s native cryptocurrency and governance token, LDO, to the Defi Fund.

LDO Added to Grayscale’s Defi Fund

Grayscale Investments, the digital asset supervisor, introduced its second-quarter 2023 replace, which covers fund rebalancing and a brand new token addition to the Defi Fund. The Digital Large Cap Fund and Smart Contract Fund skilled no modifications when it comes to added or eliminated tokens.

Nonetheless, Grayscale disclosed within the replace that it included Lido’s LDO token within the assortment of decentralized finance (defi) tokens held inside the Defi Fund. The digital asset supervisor utilized money proceeds to amass the lido (LDO) token for the fund.

LDO holds the second-largest weight within the fund’s portfolio of cash, with uniswap (UNI) being the most important, representing 45.46% of the fund’s holdings, whereas LDO now accounts for 19.04%. Following UNI and LDO when it comes to weight are AAVE (11.53%), MKR (10.82%), CRV (7.03%), and SNX (6.12%).

LDO ranks because the thirty third largest market capitalization out of almost 10,000 crypto belongings inside the crypto economic system. On Saturday, July 8, 2023, LDO elevated by 2% in opposition to the U.S. greenback, nevertheless it has skilled a lack of greater than 10% over the previous 30 days.

Looking at six-month statistics, LDO is down 1%, and it stays 73% decrease than the all-time excessive recorded on August 20, 2021. Currently, with the inclusion of LDO within the fund’s portfolio, Grayscale’s Defi Fund’s belongings underneath administration (AUM) stand at $3,144,411 as of July 7.

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