Grayscale Adds Solana to $494M Digital Large Cap Fund

Grayscale added Solana’s namesake token and the decentralized finance token of Uniswap to its large-cap crypto fund Friday.

• The company, a subsidiary of CoinDesk parent Digital Currency Group, said in a statement its $494 million Digital Large Cap Fund closed Friday with a 3.24% SOL position.
• It “is the first time SOL$199.22 will be included in a Grayscale investment vehicle,” the statement said. It called the move part of a quarterly rebalancing.
• SOL is now the fourth-largest holding of a fund dominated by bitcoin. SOL gave back some gains late Friday but remained near session highs – a tick south of $160.
• The fund also added decentralized exchange Uniswap’s native token UNI. The token will make up around 1% of the overall fund.

Read more: Grape Network, the Startup That Broke Solana, Raises $1.8M