{"id":467719,"date":"2021-07-19T18:00:40","date_gmt":"2021-07-19T18:00:40","guid":{"rendered":"https:\/\/uniquehot.com\/?p=467719"},"modified":"2021-07-19T17:06:57","modified_gmt":"2021-07-19T17:06:57","slug":"grayscale-down-on-defi-bet-with-new-fund","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/defi\/grayscale-down-on-defi-bet-with-new-fund\/","title":{"rendered":"This Is Why Grayscale Is Doubling Down On Its DeFi Bet With New Fund"},"content":{"rendered":"<p>Digital asset manager Grayscale has launched a new DeFi fund with CoinDesk Indexes, according to a <a href=\"https:\/\/www.globenewswire.com\/news-release\/2021\/07\/19\/2264846\/0\/en\/Grayscale-Investments-and-CoinDesk-Indexes-Launch-Decentralized-Finance-DeFi-Fund-and-Index.html\" target=\"_blank\" rel=\"nofollow\">press release<\/a>. The Grayscale Decentralized Finance (DeFi) Fund will offer its clients exposure to some of the major tokens in the sector.<\/p>\n<p>The fund will track the CoinDesk DeFi Index, created on May 10, 2021, to \u201cmeasure the investable DeFi market\u201d with a basket of tokens. The Index follows a rules-based methodology and it\u2019s maintained by TradeBlock, another CoinDesk subsidiary.<\/p>\n<p>Since the beginning of July, the CoinDesk DeFi Index consist of the following assets: <a href=\"https:\/\/uniquehot.com\/news\/defi\/uniswap-20m-grant-to-defi-education-fund\/\" target=\"_blank\">Uniswap <\/a>(UNI) with 49.95%, Aave (AAVE) with 10.25%, Compound (COMP) with 8.38%, Curve (CRV) with 7.44%, MakerDAO (MKR) with 6.49%, <a href=\"https:\/\/uniquehot.com\/news\/how-sushiswaps-new-products-could-propel-it-to-the-defi-top\/\" target=\"_blank\">SushiSwap<\/a> (SUSHI) with 4.83%, and others.<\/p>\n<p>At the time of writing, the index <a href=\"https:\/\/tradeblock.com\/markets\/dfx\/\" target=\"_blank\" rel=\"nofollow\">stands<\/a> at $416 with a 6.94% loss in the 24-hour chart, as the crypto market continues to trend to the downside, as seen below.<\/p>\n<figure id=\"attachment_467722\" aria-describedby=\"caption-attachment-467722\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-467722 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/07\/DeFi-Grayscale-Uniswap-UNI.jpg?resize=860%2C665\" alt=\"DeFi Grayscale Uniswap UNI\" width=\"860\" height=\"665\"><figcaption id=\"caption-attachment-467722\" class=\"wp-caption-text\">Source: Tradeblock<\/figcaption><\/figure>\n<p>Michael Sonnenshein, CEO of Grayscale Investments, claimed that the firm continues to offer its clients products to gain exposure to the most \u201cexiting parts of the digital asset ecosystem\u201d. Sonnenshein added:<\/p>\n<blockquote><p>The emergence of decentralized finance protocols provide clear examples of technologies that can redefine the future of the financial services industry. We\u2019re proud to offer investors exposure to DeFi through Grayscale\u2019s trusted, secure, and industry-leading investment product structures.<\/p><\/blockquote>\n<h2>DeFi Amongst The Most Lucrative Sectors In The Crypto Market<\/h2>\n<p>Data from Messari suggest the possible reason behind Grayscale new fund, <a href=\"https:\/\/uniquehot.com\/news\/company\/if-you-earn-crypto-for-staying-fit-would-you-do-it-defit-is-changing-the-fitness-industry-status-quo\/\" target=\"_blank\">DeFi<\/a>, and its protocols have continued to grow in Q2 2021 despite the general sentiment in the market.<\/p>\n<p>Researcher Roberto Talamas <a href=\"https:\/\/twitter.com\/RobertoTalamas\/status\/84640512?s=20\" target=\"_blank\" rel=\"nofollow\">found<\/a> that decentralized exchanges, such as Uniswap (UNI), reached $405 billion in terms of trading volume. This represents a 117x increase during 2021 and an 83% increase when compared with Q1.<\/p>\n<figure id=\"attachment_467724\" aria-describedby=\"caption-attachment-467724\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-467724 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/07\/Grayscale-UNI-Uniswap.jpg?resize=860%2C484\" alt=\"Grayscale UNI Uniswap\" width=\"860\" height=\"484\"><figcaption id=\"caption-attachment-467724\" class=\"wp-caption-text\">Source: Messari<\/figcaption><\/figure>\n<p><a href=\"https:\/\/uniquehot.com\/news\/this-is-why-uniswap-v3-could-have-insane-efficiency\/\" target=\"_blank\">The third iteration of Uniswap has met users&#8217; expectations.<\/a> Thus, this DEX took a 54% market share followed by PancakeSwap, SushiSwap, and Curve. Therefore, seems logical that CoinDesk placed a high percentage of its index on this token.<\/p>\n<figure id=\"attachment_467725\" aria-describedby=\"caption-attachment-467725\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-467725 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/07\/Grayscale-Uniswap-UNI.jpg?resize=860%2C484\" alt=\"Grayscale Uniswap UNI\" width=\"860\" height=\"484\"><figcaption id=\"caption-attachment-467725\" class=\"wp-caption-text\">Source: Messari<\/figcaption><\/figure>\n<p>Other use cases, such as stablecoins, lending and borrowing, derivatives, and yield aggregators also saw positive metrics with high participation from users. This suggests that DeFi is part of the most resilient sector in the crypto market.<\/p>\n<p>The fund has been open for daily subscription, as the press release revealed. Managing Director of CoinDesk Indexes Jodie Gunzberg claims that this new partnership with Grayscale demonstrates their commitment to introduce institutional-grade products to the market. Gunzberg added:<\/p>\n<blockquote><p>With increasing attention on the innovations within decentralized finance, it\u2019s critical for the investment community to have tools that deliver calculated exposure to this exciting area of innovation. This collaboration offers investors the data and tools they need to gain exposure to decentralized finance into their portfolios.<\/p><\/blockquote>\n<p>At the time of writing, UNI trades at $15.6 with moderate losses in the 24-hour chart.<\/p>\n<figure id=\"attachment_467723\" aria-describedby=\"caption-attachment-467723\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-467723 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/07\/DeFi-Uniswap-UNI.png?resize=860%2C512\" alt=\"DeFi Uniswap UNI\" width=\"860\" height=\"512\"><figcaption id=\"caption-attachment-467723\" class=\"wp-caption-text\">UNI trends to the downside in the daily chart. Source:<a href=\"https:\/\/www.tradingview.com\/symbols\/UNIUSDT\/\" target=\"_blank\" rel=\"nofollow\"> UNIUSDT Tradingview<\/a><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Digital asset manager Grayscale has launched a new DeFi fund with CoinDesk Indexes, according to a press release. The Grayscale Decentralized Finance (DeFi) Fund will offer its clients exposure to some of the major tokens in the sector. The fund will track the CoinDesk DeFi Index, created on May 10, 2021, to \u201cmeasure the investable DeFi market\u201d with a basket of tokens. The Index follows a rules-based methodology and it\u2019s maintained by TradeBlock, another CoinDesk subsidiary. Since the beginning of July, the CoinDesk DeFi Index consist of the following assets: Uniswap (UNI) with 49.95%, Aave (AAVE) with 10.25%, Compound (COMP) with 8.38%, Curve (CRV) with 7.44%, MakerDAO (MKR) with 6.49%, SushiSwap (SUSHI) with 4.83%, and others. At the time of writing, the index stands at $416 with a 6.94% loss in the 24-hour chart, as the crypto market continues to trend to the downside, as seen below. Michael Sonnenshein, CEO of Grayscale Investments, claimed that the firm continues to offer its clients products to gain exposure to the most \u201cexiting parts of the digital asset ecosystem\u201d. Sonnenshein added: The emergence of decentralized finance protocols provide clear examples of technologies that can redefine the future of the financial services industry. We\u2019re proud to offer investors exposure to DeFi through Grayscale\u2019s trusted, secure, and industry-leading investment product structures. DeFi Amongst The Most Lucrative Sectors In The Crypto Market Data from Messari suggest the possible reason behind Grayscale new fund, DeFi, and its protocols have continued to grow in Q2 2021 despite the general sentiment in the market. Researcher Roberto Talamas found that decentralized exchanges, such as Uniswap (UNI), reached $405 billion in terms of trading volume. This represents a 117x increase during 2021 and an 83% increase when compared with Q1. The third iteration of Uniswap has met users&#8217; expectations. Thus, this DEX took a 54% market share followed by PancakeSwap, SushiSwap, and Curve. Therefore, seems logical that CoinDesk placed a high percentage of its index on this token. Other use cases, such as stablecoins, lending and borrowing, derivatives, and yield aggregators also saw positive metrics with high participation from users. This suggests that DeFi is part of the most resilient sector in the crypto market. The fund has been open for daily subscription, as the press release revealed. Managing Director of CoinDesk Indexes Jodie Gunzberg claims that this new partnership with Grayscale demonstrates their commitment to introduce institutional-grade products to the market. Gunzberg added: With increasing attention on the innovations within decentralized finance, it\u2019s critical for the investment community to have tools that deliver calculated exposure to this exciting area of innovation. This collaboration offers investors the data and tools they need to gain exposure to decentralized finance into their portfolios. At the time of writing, UNI trades at $15.6 with moderate losses in the 24-hour chart.<\/p>\n","protected":false},"author":535,"featured_media":467720,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83405],"tags":[54512,7523],"class_list":["post-467719","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-defi","tag-defi","tag-grayscale"],"acf":[],"yoast_head":"\n<title>This Is Why Grayscale Is Doubling Down On Its DeFi Bet With New Fund<\/title>\n<meta name=\"description\" content=\"Digital asset manager Grayscale has launched a new DeFi fund with CoinDesk Indexes, according to a press release. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/\",\"https:\/\/x.com\/rl_m\"],\"url\":\"https:\/\/uniquehot.com\/author\/reynaldomarquez\/\"}]}<\/script>\n","yoast_head_json":{"title":"This Is Why Grayscale Is Doubling Down On Its DeFi Bet With New Fund","description":"Digital asset manager Grayscale has launched a new DeFi fund with CoinDesk Indexes, according to a press release. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/uniquehot.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"This Is Why Grayscale Is Doubling Down On Its DeFi Bet With New Fund","url":"http:\/\/uniquehot.com\/news\/defi\/grayscale-down-on-defi-bet-with-new-fund\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/defi\/grayscale-down-on-defi-bet-with-new-fund\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/07\/Grayscale-DeFi-Uniswap-UNI.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/07\/Grayscale-DeFi-Uniswap-UNI.jpg?fit=841%2C561"},"articleSection":"DeFi","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["defi","grayscale"],"dateCreated":"2021-07-19T18:00:40Z","datePublished":"2021-07-19T18:00:40Z","dateModified":"2021-07-19T18:00:40Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"This Is Why Grayscale Is Doubling Down On Its DeFi Bet With New Fund\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/defi\\\/grayscale-down-on-defi-bet-with-new-fund\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/defi\\\/grayscale-down-on-defi-bet-with-new-fund\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/07\\\/Grayscale-DeFi-Uniswap-UNI.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/07\\\/Grayscale-DeFi-Uniswap-UNI.jpg?fit=841%2C561\"},\"articleSection\":\"DeFi\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"defi\",\"grayscale\"],\"dateCreated\":\"2021-07-19T18:00:40Z\",\"datePublished\":\"2021-07-19T18:00:40Z\",\"dateModified\":\"2021-07-19T18:00:40Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/07\/Grayscale-DeFi-Uniswap-UNI.jpg?fit=841%2C561","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/467719","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=467719"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/467719\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/467720"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=467719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=467719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=467719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}