Grayscale Removes Bancor (BNT) And Universal Market Access (UMA) From Its DeFi Fund

The Grayscale Investment manager undertakes another phase of balancing its Grayscale DeFi fund. Read the full article by Rida Fatima

In the traditional market, there are not too many ways of getting exposure to cryptocurrency since many brokers are not able to offer it to their clients for legal reasons at this time. Just a couple of months ago the SEC approved the first-ever Bitcoin ETF that is based on the futures contract of the token. Otherwise Grayscale is the biggest digital asset manager in that space allowing investors to invest in multiple crypto trusts like Bitcoin and Ethereum. This does not give them direct exposure but is good for those looking to limit their risk exposure.

On January 3rd they announced what they were going to do in terms of rebalancing some of their funds. This process lead to Grayscale cutting out two of its funds in Bancor (BNT) and Universal Market Access (UMA). The Grayscale large-cap fund currently has $470 million in assets under management and is up 195% since it opened.

On top of this, they are also using this rebalancing period to add payment network, Flexas, AMP token to its large-cap fund list. This is the second time that Grayscale is rebalancing and also brings the total number of assets in the fund to nine Defi assets. They also recently added popular decentralized exchange Uniswap to their diverse portfolio.

The current share price for the Defi fund was $5.56 and the Bitcoin trust is trading at $34.27 and has increased 59% in the last year. Using Grayscale to get exposure to the crypto market is good for anyone who is not too comfortable with registering themselves on crypto exchanges and you can’t blame them for all the hacks that have happened over the past year. Going forward the best way to get your exposure will be directly from the source.