Grayscale Investment Management has made its decentralised exchange (DeFi) Fund available for public trading on the over-the-counter (OTC) market under the ticker DEFG.
Grayscale first introduced the DeFi Fund in July 2021, but it only allowed privately accredited investors to trade it.
On the other hand, it said on December 9 that accredited investors headquartered in the United States might openly purchase and sell DEFG Shares.
Investors can purchase some of the 233,960 Shares that are still outstanding through DEFG, giving them access to a variety of DeFi assets through a single investment instrument.
The DeFi Fund currently consists of 68.88% of Uniswap (UNI), 13% of Aave (AAVE), 8.89% of Maker (MKR), 5.14% of Curve (CRV), and 4.09% of Compound, according to GrayScale (COMP).
The CoinDesk DeFi Select Index (DFX) will be used by the DeFi Fund to review and rebalance the underlying assets every quarter.
Rayhaneh Sharif-Askaray, Head of Investor Solutions at Grayscale, stated:
“We believe that investors deserve access to the digital currency ecosystem through secure products, and are excited to now offer them exposure to the evolving decentralized finance sub-sector through a publicly-quoted security.”
Grayscale now offers 15 public investment products, including the Grayscale Bitcoin Trust, with the recently announced DeFi Fund (DEFG) (GBTC).
Discounted GBTC trading for Grayscale
The Bitcoin Trust GBTC from Grayscale was created to monitor the price of Bitcoin (BTC). However, GBTC is currently selling at a 49.2% discount as a result of previous market collapses. GBTC has decreased by 74% so far in 2022, while BTC has decreased by 63%.
The financial limitations the investment firm is under are intimately related to the discount offered by GBTC. Grayscale allegedly declined to disclose its Bitcoin holdings, raising questions about whether it would be experiencing liquidity problems as a result of the FTX collapse.
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