Grayscale Adds Solana to $494M Digital Large Cap Fund

The asset manager’s bitcoin-heavy fund allocated 3.24% to SOL Friday.

Oct 1, 2021 at 11:29 p.m. UTC
Updated Oct 4, 2021 at 1:22 p.m. UTC

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 (SOL) 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.

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Danny is a business reporter at CoinDesk.