Grayscale Large Cap Fund Quarterly Rebalancing: Adds UNI and SOL, while the review of four US ETFs is postponed again

Grayscale summarized the current status of its funds on October 2nd, Taiwan time, and announced adjustments to its portfolio in the new quarter, adding new investments in UNI and SOL.

Grayscale Fund Review

The asset management scale of GBTC Grayscale Bitcoin Trust remains the largest, totaling $29.96 billion; followed by ETHE Grayscale Ethereum Trust with $9.88 billion. Next are ETC and Large Cap Fund. As of the deadline on October 2nd, the discount of GBTC in the secondary market is still -14%, while ETHE is at -1.04%.

Large Cap Fund Includes UNI, SOL

As of October 2nd, Grayscale's third-largest asset management fund, Large Cap, has $494.6 million in assets and has added UNI and SOL. The allocation is as follows:

• BTC: 62.19%
• ETH: 26.08%
• ADA: 5.11%
• SOL: 3.24%
• UNI: 1.06%
• LINK: 0.82%
• LTC: 0.77%
• BCH: 0.73%

Compared to July, there has been a reduction in Bitcoin holdings, which have been allocated to ETH, SOL, and UNI. BCH, LTC, and LINK holdings have decreased:

• BTC: 67.47%
• ETH: 25.39%
• ADA: 4.26%
• BCH: 1.03%
• LTC: 0.99%
• LINK: 0.86%

Bitcoin ETF Application Further Delayed by SEC

Grayscale has been hoping to transition to an ETF to boost its fund's popularity, but U.S. regulators have not yet approved this. The SEC chairman recently indicated a preference for futures-based ETFs.

The U.S. SEC has issued further delay notices to four operators, Global X, WisdomTree, Kryptoin, and Valkyrie, who applied for cryptocurrency ETFs. The earliest results may be known by late November. Only Valkyrie's ETF is based on the futures market, with results expected in December.

Canadian ETF?

As Canada has already approved a Bitcoin ETF, although the managed assets are increasing, there is still a significant gap compared to GBTC in terms of scale, and the trading volume is not substantial. Whether ETFs truly have appeal in the market remains to be seen.

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