Grayscale Shakes Up Crypto Funds: ONDO In, DOT Out, HBAR Steps Up!

Quarterly Rebalancing Rocks DeFi, Smart Contract, and AI Funds

Hang onto your hats, crypto fans! Grayscale Investments just dropped the bomb with their quarterly fund shakeup on July 7. They've been tinkering with their DeFi Fund, Smart Contract Fund, and Decentralized AI Fund, and the changes hit the market like a tsunami at the end of trading on July 3.

Grayscale tweeted, "Every quarter, we rebalance and update the components of our multi-asset funds Grayscale DeFi Fund, Grayscale Smart Contract Fund, and Grayscale Decentralized AI Fund. Read on for our Q3 updates 🧵"

The DeFi Fund is buzzing with the addition of Ondo (ONDO), making up a whopping 18.22% of the fund. They funded this move by trimming other holdings, while Uniswap (UNI) and Aave (AAVE) hold steady as the top dogs at 34.01% and 30.74%. The rest? It's spread across MakerDAO, Curve, and Lido.

Hold onto your seat for the Smart Contract Fund drama! Polkadot (DOT) got the boot, and in its place, Hedera (HBAR) strutted in. Grayscale juggled the existing assets to make room for HBAR and keep everything balanced. Ethereum (ETH) and Solana (SOL) still rule the roost with just over 30% each, while Cardano (ADA), Sui (SUI), and Avalanche (AVAX) round out the crew.

The Decentralized AI Fund kept things simple this round—no new faces, just some reshuffling. Bittensor (TAO) and NEAR Protocol (NEAR) are now the big shots, followed by Render (RENDER), Filecoin (FIL), and The Graph (GRT).

Let's get this straight: these funds aren't here to make you rich overnight. They're about giving investors a taste of DeFi, smart contract platforms, or decentralized AI without the hassle of managing each coin themselves. Just hold shares and watch the sector move!

Grayscale keeps these funds fresh by tweaking them now and then, but don't expect any interest or dividends. They cover costs by selling bits of the fund's assets, which slowly shrinks the number of tokens per share.

Meanwhile, Grayscale's not slowing down. They're pushing forward with the Grayscale Digital Large Cap ETF, aiming to include the top five cryptos by market cap: Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL), and Cardano (ADA).

But hold up—the SEC threw a wrench in the works on July 1, reviewing the ETF's approval and putting its listing on ice. Now it's anyone's guess when it'll hit the market as the commission figures out new rules for these crypto investment products.