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Grayscale Adds Solana to $494M Digital Large Cap Fund
The asset manager’s bitcoin-heavy fund allocated 3.24% to SOL Friday.
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 Solana (SOL) 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
STORY CONTINUES BELOW
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
