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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.
By Danny Nelson
Updated May 11, 2023, 5:50 p.m. Published Oct 1, 2021, 11:29 p.m.
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 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
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