Grayscale Investments, a billion-dollar crypto asset management corporation located in New York, today revealed its multiple portfolio reshuffles.
Grayscale Investments’ portfolio reshuffles
Grayscale, most notably, reformed its relative weights to crypto-assets and added three more tokens to its ‘Digital Large Cap Fund.’ The three newly added crypto tokens are Avalanche, Polkadot and Cosmos.
Grayscale Investments is adding three crypto assets to its three diversified funds and removing another two from the product. Avalanche (AVAX), Polkadot (DOT), Cosmos (ATOM) were added. SushiSwap (SUSHI) and Synthetix (SNX) were removed.
— Wu Blockchain (@WuBlockchain) April 6, 2022
Three new tokens
Polkadot and Avalanche are smart contract protocols that join a lengthy list of cryptocurrency giants like Bitcoin and Ethereum, as well as upstarts such as Cardano, Solana, and Uniswap. Cosmos, which has been included in Grayscale’s Smart Contract Fund, has a reputation for interoperability, like Polkadot and Avalanche.
Two projects were completely removed from Grayscale’s digital asset chest as part of the reshuffle. These are DeFi project Sushi Swap and crypto derivative liquidity network Synthetix.
SushiSwap has taken a beating after reaching an all-time high of $23 USD in March 2021. The multichain DeFi swap is presently selling at about $3.60. Sushi’s exclusion from the fund does not signal well for the company, which operates in a congested DeFi industry. Synthetix, on the other hand, is confronted with difficulties that go beyond traditional market dynamics.
