This is why Solana is pumping 

Grayscale had added Solana and ethereum based crypto asset  to its Digital Large Cap Fund.

Grayscale reported it had added Solana (SOL) to its Digital Large Cap Fund as the fund closed with a SOL position of 3.24%. And it also includes Uniswap token UNI which holds a 1% position in the fund.

In accordance with its construction criteria, we adjusted Grayscale Digital Large Cap Fund’s portfolio by selling certain amounts of the existing components in proportion to their respective weightings and used the cash proceeds to purchase Solana and Uniswap. (2/5)

— Grayscale (@Grayscale) October 1, 2021

According to the firm, “this is the first time Solana (SOL) will be included in a Grayscale investment vehicle”. And “In accordance with its construction criteria, we adjusted Grayscale Digital Large Cap Fund’s portfolio by selling certain amounts of the existing components in proportion to their respective weightings and used the cash proceeds to purchase Solana and Uniswap.”

Grayscale published its current holdings of cryptocurrency assets and their percentage of holdings. The firm said as at the end of October 1st, Bitcoin holds 62.19% of the fund; Ethereum is 26.08%; Cardano 5.11%; Solana 3.24%; Uniswap 1.06%, Chainlink 0.82%; Litecoin 0.77%; Bitcoin Cash 0.73.

The asset manager said no new tokens were added to its DeFi fund nor was any removed. And they include as at close of October 1st, Uniswap (UNI), 45.20%; Aave (AAVE), 14.11%; MakerDAO (MKR), 7.84%; SushiSwap (SUSHI), 7.18%; Compound (COMP), 6.73%; Synthetix (SNX), 6.29%; Yearn Finance (YFI), 3.92%; Curve (CRV), 3.53%; Bancor Network Token (BNT), 3.04%; UMA Protocol (UMA), 2.16%

Grayscale added that neither of the Grayscale Digital Large Cap Fund nor the Grayscale DeFi Fund generates any income. And that they both regularly distribute Fund components to pay expenses. 

Solana is currently trading at over $170 while Uniswap is trading at $27.

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