Investment management company Grayscale Open A decentralized exchange (DeFi) fund (under ticker DEFG) for public trading via the over-the-counter (OTC) market.
Grayscale first launched its DeFi fund in July 2021, but restricted trading to private investors only. However, on December 9th, announced Accredited investors based in the United States may purchase and sell DEFG shares publicly.
DEFG allows investors to purchase a portion of the outstanding 233,960 shares to gain exposure to a diverse basket of DeFi assets in a single investment vehicle.
According to GrayScale, the current composition of the DeFi fund includes Uniswap (UNI) at 68.88%, Aave (AAVE) at 13%, Maker (MKR) at 8.89%, Curve (CRV) at 5.14%, and Compound (COMP). .
DeFi Fund Uses CoinDesk DeFi Select Index (DFX) We evaluate and readjust the underlying assets quarterly.
Reyhane Sharif Askarai, Head of Investor Solutions at Grayscale, said:
“We believe investors deserve access to the digital currency ecosystem through a secure product, and we are excited to offer exposure to the evolving decentralized financial subsector through publicly quoted securities.”
The newly launched DeFi Fund (DEFG) brings Grayscale public investment products to 15, including Grayscale Bitcoin Trust (GBTC).
Discounted Grayscale GBTC Trades
Grayscale Bitcoin Trust GBTC is designed to track the price of Bitcoin (BTC). However, following the recent market crash, GBTC is trading at a discount of 49.2%. As of 2022, GBTC is down 74% and BTC is down 63%.
GBTC discounts are closely related to the financial constraints faced by investment firms. Grayscale reportedly refused to disclose its Bitcoin holdings, prompting concerns that it may be facing liquidity issues stemming from the FTX collapse.