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Crypto investment firm Grayscale shed light on the structure of various crypto funds in its latest quarterly review. The review highlights a significant change in the Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPXE), with Solana (SOL) now taking the lead as the dominant asset in the fund.
Solana Takes Over as the Dominant Asset in GSCPXE Fund, Surpassing Cardano
In the past, Cardano (ADA) held the position of the dominant asset in the GSCPxE Fund with a weight of 25.89% at the end of the second quarter. However, this changed by the end of the third quarter. Solana made a significant jump within the fund and became the dominant asset with a weight of 27.28%, slightly surpassing Cardano’s unchanged weight of 25.89%.
No new coins/tokens were added to the fund, and no coins/tokens were removed. Other notable assets with significant weights in the fund include Polygon (MATIC) with 15.01%, Polkadot (DOT) with 14.25%, Avalanche (AVAX) with 10.24%, and Cosmos (ATOM) with 7.33%.
Asset Allocations in Grayscale’s Other Funds
A deeper analysis of Grayscale’s portfolio reveals that the Grayscale DeFi Fund was dominated by Uniswap (UNI) with a significant weight of 45.46% in the third quarter of the year. Following Uniswap, Lido DAO (LDO) accounted for 19.04% of the fund, Aave (AAVE) accounted for 11.53%, MakerDAO (MKR) accounted for 10.82%, Curve DAO Token (CRV) accounted for 7.03%, and Synthetix (SNX) accounted for 6.12%.
Furthermore, Bitcoin (BTC) continues to represent the lion’s share of 70.05% in the Grayscale Digital Large Cap Fund, with Ethereum (ETH) as the largest altcoin with 27.02%.
Other assets in the Grayscale Digital Large Cap Fund include Cardano with a weight of 1.19%, Solana with a weight of 0.99%, and Polygon with a weight of 0.75%.
