Grayscale Investments, a leading digital currency asset manager, and CoinDesk Indexes, a subsidiary of CoinDesk Inc., announced a partnership to launch Grayscale Decentralized Finance (DeFi) Fund and the CoinDesk DeFi Index.
The Grayscale DeFi Fund provides “investors with exposure to a selection of industry-leading DeFi protocols through a market-capitalization weighted portfolio.” Grayscale’s 15th Investment product tracks the newly released Coindesk DeFi Index.
“Greyscale continues to focus on creating opportunities for investors to access new, exciting part of the digital asset ecosystem,” said Grayscale Investment CEO Michael Sonnenshein.
The CoinDesk DeFi Index aims to provide a broad-based, benchmark representation of DeFi protocols. The Index method includes liquid DeFi assets on a market-cap-weighted basis.
As of July 1, 2021, the index consisted of the following assets and weightings:
- Uniswap (UNI), 49.95%
- Aave (AAVE), 10.25%
- Compound (COMP), 8.38%
- Curve (CRV), 7.44%
- MakerDAO (MKR), 6.49%
- SushiSwap (SUSHI), 4.83%
- Synthetix (SNX), 4.43%
- Yearn Finance (YFI), 3.31%
- UMA Protocol (UMA), 2.93%
- Bancor Network Token (BNT), 2.00%
“With increasing attention on the innovations with decentralized finance, it’s critical for the investment community to have tools that deliver calculated exposure to this exciting area of innovation. This collaboration offers investors the data and tools they need to gain exposure to decentralized finance into their portfolios,” said Managing Director of CoinDesk Indexes Jodie Gunzberg.
Also Read: Bank of New York Mellon To Provide Asset Servicing For Grayscale Bitcoin Trust
The Fund is now open for daily subscription by the eligible individual and accredited institutional investors. Grayscale says that it intends to attempt to have shares of this new product quoted on a secondary market. It also added that “there is no guarantee this will be successful.”
The CoinDesk DeFi Index is a new product from TradeBlock. It is one of the first firms to develop an index for a professional index to track bitcoin.
