Stephanie Douse 
Grayscale, a cryptocurrency asset management firm, has added three new crypto assets to its funds while removing SushiSwap and Synthetix from its DeFi Fund following its first quarterly rebalance.
Grayscale, a digital asset management firm, has added three new cryptocurrency assets across three main investment funds, while eliminating two additional assets from its Decentralized Finance Fund, as part of the first quarterly rebalance of the year.
Grayscale pulled tokens from the decentralized crypto-derivatives exchange Synthetix (SNX) and the decentralized exchange SushiSwap (SUSHI) from its DeFi fund after the two crypto assets failed to satisfy the specified minimum market capitalization. During the rebalance, no additional cryptocurrencies were withdrawn.
Grayscale’s DeFi fund, which debuted in July of last year, presently has about $8 million in assets. Uniswap (UNI), Aave (AAVE), Curve (CRV), MakerDAO (MKR), Amp (AMP), Yearn Finance (YFI), and Compound are among the digital assets that remain in the DeFi fund following the quarterly rebalance (COMP).
Avalanche (AVAX) and Polkadot (DOT) have been added to the crypto asset manager’s Digital Large Cap Fund, while Cosmos (ATOM) has been added to its Smart Contract Platform Ex-Ethereum Fund (GSCPxE Fund).
The GSCPxE Fund, which debuted on March 22nd, allows investors to wager on an index of Ethereum’s main competitors. The current holdings of the GSCPxE Fund, in order of total value, are ADA, SOL, AVAX, DOT, MATIC, ALGO, XLM, and ATOM.
Grayscale is still the world’s top crypto asset manager, with $43.5 billion in assets under management as of January 3rd of this year. The Grayscale Bitcoin Trust (GBTC) is the largest fund, with little more than $30 billion in AUM, but it has traded at a growing discount to its net asset value over the past year. The Grayscale Ethereum Trust (ETCG), which presently has around $11.8 billion in AUM, is the second-largest cryptocurrency behind GBTC.
Cryptocurrency investment funds saw over $9.3 billion in inflows in 2021, as institutional adoption reached new highs. Grayscale is preparing to launch a Bitcoin Spot exchange-traded fund (ETF) and has stated that it is prepared to take legal action if the financial product is not approved by the SEC.