Solana [SOL] and Uniswap [UNI] to debut in Grayscale investments

Solana and Uniswap have gained tremendous traction of late. Now, a leading digital asset manager is gearing up to roll out all-new investment vehicles to provide more exposure to new assets. Grayscale Investments has announced the revised updated fund offerings that include Solana [SOL] and decentralized finance token Uniswap [UNI] for the first time.

The newest entries join the elite list of the portfolio known as Grayscale Digital Large-cap Fund [GDLC] that incorporates major crypto-assets like Bitcoin [BTC], Etherium [ETH], Cardano [ADA], along with a few others.

In a series of tweets, the New York-based company revealed that the GDLC fund has been adjusted by selling the current fund components corresponding to their ratios and exchanging them for Solana and Uniswap in an effort to diversify their portfolio for crypto investors.

The blog post also displayed the latest basket of crypto assets in accordance with their token and weightage.

Bitcoin (BTC), 62.19%
Ethereum (ETH), 26.08%
Cardano (ADA), 5.11%
Solana (SOL), 3.24%
Uniswap (UNI), 1.06%
Chainlink (LINK), 0.82%
Litecoin (LTC), 0.77%
Bitcoin Cash (BCH), 0.73%

It is to be noted that the Grayscale Digital Large-cap Fund, which amounts to $494 million in Assets under Management [AUM], has allocated Solana and Uniswap with 3.25% and 1.06% respectively. The digital large-cap portfolio aims to cover the top 70% of the cryptocurrency market and is subjected to review after every three months. The latest addition is reflective of the growing popularity of the tokens in recent times, especially Solana.

Solana’s [SOL] impressive price action

SOL has strengthened its position as the 7th largest cryptocurrency with a market cap of $46 billion and has followed a steady uptrend following the announcement of several projects on the layer one network that has caught the attention of crypto investors

Solana [SOL] reached an all-time high of $212 on 9th September this year in the backdrop of a dull market. While other cryptocurrencies have taken major hits, Solana has managed to avoid severe losses despite increased bearish pressure in the market. As October dawned, SOL’s price appreciated in response to the latest recovery in the broader market. This was evident from last week’s price chart showing a 12% surge. In the past 24 hours, its price increased by 10.75% and was now trading at $158.60.

Uniswap’s [UNI] underwhelming performance

September has not been kind to the cryptocurrency industry and Uniswap was not an exception. UNI’s price has been underwhelming. This can be attributed to the dull network activity. For the most part, its clone Sushiswap outperformed the former across several metrics. As the market recovered, UNI followed suit with a 35% rise in the last week and an almost 2% increase in the past 24-hours. At press time it was trading at $25.76.