Grayscale

Grayscale launch a DeFi fund as requested by investors.

Grayscale, the world’s largest digital currency asset manager, has launched a DeFi fund. 

The DeFi fund is designed to expose investors to decentralized finance protocol. 

“Like with all digital assets in the crypto ecosystem, it’s very early days for DeFi, and the technology and use cases are still in development,… but our investors have expressed strong interest in DeFi and it’s a space where there’s been organic user adoption at scale alongside a very active developer community.”

Grayscale spokesperson

The Decentralized Finance fund was in partnership with Coindesk indexes. 

Grayscale DeFi fund was built to use Coindesk DeFi index which aims at providing a broad representation of DeFi protocols. 

The largest holding in the Coindesk index tracked by the fund is Uniswap. 

According to the fund, Uniswap, a decentralized exchange accounts for about 50% of the DeFi fund. 

On the list is Aave, an open source and non-custodial protocol and compound, an autonomous protocol built for developers. 

Brian Mosoff, CEO of Ether Capital, said that interest in crypto assets has gone beyond bitcoin and ether. 

He noted that Grayscale has been a leader in giving institutional and accredited investors various access points to the space.

Grayscale as an asset manager 

Grayscale in 2015 launched Grayscale Bitcoin Trust (GBTC) and the product has grown to $20.7billion in assets. 

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The asset manager also offers products that give investors exposure to various other single crypto assets, such as ether, filecoin, chainlink and litecoin.

Earlier this year, Grayscale announced in a blog post that it was considering adding 13 assets to its product family. 

DeFi in blockchain technology

“DeFi is certainly a hot sector. It has been for the last 12 months and it probably will remain to be of interest for the next number of years,”

Brian Mosoff

Decentralized finance, otherwise known as DeFi has been a major push in the Ethereum price upsurge. 

DeFi has developed greatly and has been able to bridge the gap between traditional finance and blockchain systems. 

It has become a more easier and convenient redistribution of wealth without a third party. 

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