The world’s largest public bitcoin Fund manager Grayscale Investments announced that a new decentralized finance (DeFi) fund has started trading on the over-the-counter markets.
The World’s Largest Bitcoin (BTC) Fund Manager Grayscale Has Been Going Through Difficult Times In The Last Weeks
The new fund began trading under the symbol “DEFG” after the shares of Grayscale’s largest fund, the Grayscale Bitcoin Trust (GBTC), were traded at a record 47% discount to BTC value.
Grayscale said it was operating as usual, but speculation about the fund’s future has emerged among investors and on Twitter in recent weeks amid questions about the financial condition of Grayscale’s parent company, Digital Currency Group.
The crisis in the market deepened after Genesis Global Capital, another company belonging to the Digital Currency Group, stopped its client withdrawals.
Similar to Grayscale’s other multi-asset investment vehicles, the DeFi fund is designed to give investors exposure to the price movements of a basket of digital assets through a single investment vehicle via the exchange, rather than directly buying cryptocurrencies.
DEFG, Aave (AAVE), Uniswap (UNI), Compound (COMP), CRV (Curve DAO Token) and MKR (Maker) It tracks the decentralized finance DeFi Index (DFX), which includes altcoins.
According to the press release, the components of the fund will be evaluated quarterly.
According to the press release, this is the company’s 15th digital currency investment product traded on OTC markets.
*Not investment advice.
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