Grayscale Removes BNT And UMA From The DeFi Fund

Digital asset management giant Grayscale Investments has updated its DeFi fund. The company has brought back AMP (flex’s native payment network token). Additionally, it removed the Universal Market Access Protocol (UMA) and the Bancor Network Token (BNT).

Greyscale announced recently that AMP – a payment-securing token used on the Flexa network – will be included in its investment portfolio for the first time.

According to the asset manager, Flexa Network provides traders with “fast settlement of fiat payments” and allows them to “receive payments in digital currencies more easily.”

Grayscale also announced that it would permanently remove Bancor Network Token (BNT) and Universal Market Access Protocol (UMA) from its DeFi fund. There have been no changes to the company’s other products to date.

Grayscale released its DeFi product in July 2021. Investing in the DeFi Fund has exposed institutional investors to assets in the decentralized finance sector. In the beginning, there were ten tokens, and UniSwap (UNI) weighted 49.5%.

AAVE (AAVE) ranked second with 10.25%. The third place was taken by compound (COMP) with 8.38%, fourth curve (CRV) with 7.44%, makerDAO (MKR) with 6.46%, sushiswap (SUSHI) with 4.83%, synthetix (SNX) with 4.43%, yearn finance (YFI) with 3.31%, uma protocol (UMA) with 2.93%, and bancor network token (BNT) with 2.93%. 2% of the fund was made up of other tokens.

The company also updated its portfolio six months later. According to the website, UNISAP continues to hold the largest share with 43%. This is followed by aave (13%), curve DAO token (10.6%) and maker (9%).

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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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