Grayscale Removes Bancor (BNT) And Universal Market Access (UMA) From Its DeFi Fund

The Grayscale Investment manager undertakes another phase of balancing its Grayscale DeFi fund. This round of rebalance inculcate the adjustment of the project’s Digital Large Cap Funds. This move marks its second balancing process after its launch in July 2021. An announcement on January 3 revealed the in-depth adjustments to Grayscale’s two funds. The first rebalancing employed the Flexa payment network’s native collateral coin. Related Reading | Could Kazakhstan Turmoil Cause Another Bitcoin Hash Crash? Hence, Grayscale DeFi Fund’s weighting was rebalanced with the addition of AMP. Conversely, the rebalancing process led to the removal of Universal Market Access (UMA) and Bancor (BNT). Though Grayscale created some adjustments to its funds’ weightings, the Grayscale Digital Large Cap Fund (GDLC) suffered no alteration to its token list. According to Grayscale’s announcement, the rebalancing process is the time to include AMP within a Grayscale investment vehicle. Using its native token, Flexa can collateralize crypto payments and engage in fiat settlements. Thus, merchants and other users could quickly receive cryptocurrencies without delays. Significance Of Grayscale Rebalancing Process Following this second rebalancing process, the addition of AMP brings the number of crypto assets within the Grayscale DeFi Fund to nine in the DeFi ecosystem. Also, the alteration to the Grayscale F...