Grayscale adds new constituent to its DeFi index as part of quarterly rebalance.
Crypto asset management firm Grayscale announced Tuesday a shake-up in the constituents of its DeFi index as part of its quarterly rebalancing.
The firm, which is owned by crypto deca-unicorn DCG, said that it would remove Bancor and UMA from the index and add AMP. Bancor – the token tied to the decentralized exchange — and UMA — a token tied to a protocol for synthetic assets – together accounted for 2% and 2.9% of the index at the time of its launch, respectively.
As for the new addition, AMP is a token that is used within the Flexa Network as a form of collateral. AMP will make up 7.39% of the fund. Other assets in the fund include Uniswap and Aave, which make up 42.33% and 13.06%, respectively. Grayscale, which is best known for its GBTC product, has its sights set on launching a wide range of new financial products tied to the crypto market in 2022. The firm has said that it intends to upgrade its GBTC product into a proper exchange-traded fund. The firm also submitted an application with financial regulators to
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