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 “measure the investable DeFi market” with a basket of tokens. The Index follows a rules-based methodology and it’s 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