Grayscale Investments®, an asset management firm with expertise in
crypto investing, offering more than 25 crypto investment products,
and manager of Grayscale® Decentralized AI Fund (AI Fund),
Grayscale® Decentralized Finance (DeFi) Fund (OTCQB: DEFG) (DeFi
Fund), Grayscale® Digital Large Cap Fund (OTCQX: GDLC) (Digital
Large Cap Fund), and Grayscale® Smart Contract Platform Ex-Ethereum
Fund (GSCPxE Fund), today announced the updated Fund Component
weightings for each product in connection with their respective
fourth quarter 2024 reviews.
In accordance with AI Fund methodology, Grayscale has adjusted
AI Fund’s portfolio by selling existing Fund Components in
proportion to their respective weightings, and using the cash
proceeds to purchase Livepeer (LPT) and existing Fund Components.
As a result of the rebalancing, LPT was added to AI Fund. At the
end of the day on January 6, 2025, AI Fund’s Fund Components were a
basket of the following assets and weightings*:
- NEAR Protocol (NEAR), 29.93%
- Render (RENDER), 20.58%
- Bittensor (TAO), 19.03%
- Filecoin (FIL), 17.18%
- The Graph (GRT), 10.45%
- Livepeer (LPT), 2.83%
In accordance with the CoinDesk DeFi Select Index methodology,
Grayscale has adjusted DEFG’s portfolio by selling Synthetix (SNX)
and existing Fund Components in proportion to their respective
weightings, and using the cash proceeds to purchase Curve (CRV) and
existing Fund Components. As a result of the rebalancing, SNX was
removed from DEFG and CRV was added to DEFG. At the end of the day
on January 6, 2025, DEFG’s Fund Components were a basket of the
following assets and weightings**:
- Uniswap (UNI), 47.88%
- Aave (AAVE), 27.87%
- Lido (LDO), 9.75%
- MakerDAO (MKR), 7.79%
- Curve (CRV), 6.71%
In accordance with the CoinDesk Large Cap Select Index
methodology, Grayscale has adjusted GDLC’s portfolio by selling
Avalanche (AVAX) and existing Fund Components in proportion to
their respective weightings, and using the cash proceeds to
purchase Cardano (ADA) and existing Fund Components. As a result of
the rebalancing, AVAX was removed from GDLC and ADA was added to
GDLC. At the end of the day on January 6, 2025, GDLC’s Fund
Components were a basket of the following assets and
weightings**:
- Bitcoin, 73.52%
- Ether, 16.16%
- XRP, 5.05%
- Solana (SOL), 3.83%
- Cardano (ADA), 1.44%
In accordance with the CoinDesk Smart Contract Platform Select
Ex ETH Index methodology, Grayscale has adjusted GSCPxE Fund’s
portfolio by selling existing Fund Components in proportion to
their respective weightings and using the cash proceeds to purchase
SUI and existing Fund Components. As a result of the rebalancing,
SUI was added to GSCPxE Fund. At the end of the day on January 6,
2025, GSCPxE Fund’s Fund Components were a basket of the following
assets and weightings**:
- Solana (SOL), 55.22%
- Cardano (ADA), 20.82%
- Avalanche (AVAX), 9.52%
- Sui (SUI), 7.93%
- NEAR Protocol (NEAR), 3.85%
- Polkadot (DOT), 2.66%
None of AI Fund, DEFG, GDLC, or GSCPxE Fund
generate any income, and all regularly distribute Fund Components
to pay for ongoing expenses. Therefore, the amount of Fund
Components represented by shares of each fund gradually decreases
over time.
For more information, please visit grayscale.com.
This press release is not an offer to sell or the solicitation
of an offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal, nor shall there be any sale
of any security in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of that jurisdiction.
*The composition of the AI Fund is evaluated on a quarterly
basis to remove existing Fund Components or to include new Fund
Components, in accordance with the fund methodology established by
Grayscale as the Manager of the Fund. Holdings and weightings of
the AI Fund are subject to change.
**The compositions of DEFG, GDLC, and GSCPxE Fund are evaluated
on a quarterly basis to remove existing Fund Components or to
include new Fund Components, in accordance with the index
methodologies established by the Index Provider. Holdings and
weightings of each Fund are subject to change. Investors cannot
directly invest in an index.
About Grayscale® Decentralized AI Fund
AI Fund seeks to provide investors with exposure to protocols
building Decentralized AI services, protocols building solutions to
centralized AI-related problems, and infrastructure and resources
critical to AI technology development.
Grayscale intends to attempt to have shares of this new product
quoted on a secondary market. However, there is no guarantee this
will be successful. Although the shares of certain products have
been approved for trading on a secondary market, investors in this
product should not assume that the shares will ever obtain such an
approval due to a variety of factors, including questions
regulators such as the SEC, FINRA or other regulatory bodies may
have regarding the product. As a result, shareholders of this
product should be prepared to bear the risk of investment in the
shares indefinitely.
Decentralized AI is a new technology and ongoing
development may magnify initial problems, cause volatility on the
networks that use decentralized AI and reduce interest in them,
which could have an adverse impact on the value of digital assets
that rely on decentralized AI.
Extreme volatility of trading prices that many digital assets
have experienced in recent periods and may continue to experience,
could have a material adverse effect on the value of the products
and the shares could lose all or substantially all of their
value.
About Grayscale® Decentralized Finance Fund
DeFi Fund seeks to provide investors with exposure to a
selection of industry-leading decentralized finance platforms
through a market cap-weighted portfolio designed to track the
CoinDesk DeFi Select Index. DeFi Fund holds some of the largest and
most liquid digital assets that meet certain trading and custody
requirements and are classified in the DeFi sector defined by
CoinDesk Digital Asset Classification Standard (DACS); the
weightings of each Fund Component change daily and are published
around 4:00 p.m. NY-time. Additional information on the CoinDesk
DeFi Select Index methodology can be found at:
https://www.coindesk.com/indices/dfx/.
DeFi Fund’s investment objective is for its Shares to reflect
the value of Fund Components held by the DeFi Fund, less its
expenses and other liabilities. To date, the DeFi Fund has not met
its investment objective and the Shares quoted on OTCQB have not
reflected the value of Fund Components held by the DeFi Fund, less
the DeFi Fund's expenses and other liabilities, but instead have
traded at both premiums and discounts to such value, with
variations that have at times been substantial.
About Grayscale® Digital Large Cap Fund
Digital Large Cap Fund seeks to provide investors with exposure
to large-cap coverage of the digital asset market through a market
cap-weighted portfolio designed to track the CoinDesk Large Cap
Select Index. Digital Large Cap Fund holds the largest and most
liquid digital assets that meet certain trading and custody
requirements and are classified in the CoinDesk Digital Asset
Classification Standard (DACS); the weightings of each Fund
Component change daily and are published around 4:00 p.m. NY-time.
Additional information on the Index methodology can be found at:
https://www.coindesk.com/indices/dlcs/.
Digital Large Cap Fund’s investment objective is for its Shares
to reflect the value of Fund Components held by the Digital Large
Cap Fund, less its expenses and other liabilities. To date, the
Digital Large Cap Fund has not met its investment objective and the
Shares quoted on OTCQX have not reflected the value of Fund
Components held by the Digital Large Cap Fund, less the Digital
Large Cap Fund's expenses and other liabilities, but instead have
traded at both premiums and discounts to such value, with
variations that have at times been substantial.
About Grayscale® Smart Contract Platform Ex-Ethereum
Fund
GSCPxE Fund seeks to provide investors with exposure to a
selection of industry-leading Smart Contract Platforms through a
market cap-weighted portfolio designed to track the CoinDesk Smart
Contract Platform Select Ex ETH Index. GSCPxE Fund holds some of
the largest and most liquid digital assets, excluding ether, that
meet certain trading and custody requirements, and are classified
in the Smart Contract Platform sector defined by CoinDesk Digital
Asset Classification Standard (DACS); the weightings of each Fund
Component change daily and are published around 4:00 p.m. NY-time.
Additional information on the CoinDesk Smart Contract Platform
Select Ex ETH Index methodology can be found at:
https://www.coindesk.com/indices/scpxx/.
Grayscale intends to attempt to have shares of this product
quoted on a secondary market. However, there is no guarantee this
will be successful. Although the shares of certain products have
been approved for trading on a secondary market, investors in this
product should not assume that the shares will ever obtain such an
approval due to a variety of factors, including questions
regulators such as the SEC, FINRA or other regulatory bodies may
have regarding the product. As a result, shareholders of this
product should be prepared to bear the risk of investment in the
shares indefinitely.
Smart contracts are a new technology and ongoing development may
magnify initial problems, cause volatility on the networks that use
smart contracts and reduce interest in them, which could have an
adverse impact on the value of digital assets that deploy smart
contracts.
Extreme volatility of trading prices that many digital assets
have experienced in recent periods and may continue to experience,
could have a material adverse effect on the value of the products
and the shares could lose all or substantially all of their
value.
About Grayscale Investments®
Grayscale enables investors to access the digital economy
through a family of future-forward investment products. Founded in
2013, Grayscale has a decade-long track record and deep expertise
as an asset management firm focused on crypto investing. Investors,
advisors, and allocators turn to Grayscale for single asset,
diversified, and thematic exposure. Grayscale products are
distributed by Grayscale Securities, LLC (Member FINRA/SIPC).
Media ContactJennifer
Rosenthalpress@grayscale.com
Client
Contact866-775-0313info@grayscale.com
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