Grayscale Gives BNB 30.6% in Smart Contract Fund, Tops Ether and Solana
Grayscale Investments has added BNB to its Smart Contract Fund, giving the token the largest allocation in the portfolio after its quarterly rebalancing. As of Aug. 3, BNB accounted for 30.6% of the fund, surpassing ether at 29.47% and solana at 29.15%. The remaining holdings were spread across cardano, hedera, avalanche and sui, each with less than 5%.
The asset manager funded the BNB purchase by selling portions of the fund’s existing holdings. Grayscale also trimmed its Decentralized Finance Fund, reducing uniswap to a 34.16% weighting. Despite the sale, UNI remained the largest asset, followed by ondO (25.44%), Aave (19.97%), ethena (12.19%), curve and lido DAO. The proceeds from the UNI sale were used to increase other positions proportionally.
For the Decentralized AI Fund, Grayscale sold part of its NEAR Protocol position, directing proceeds into other holdings. NEAR still leads at 31.35%, with bittensor at 29.15%, render at 21.59% and filecoin at 17.91%. The fund is now more evenly distributed, though NEAR and Bittensor together exceed 60%.
Grayscale noted that its DeFi and Smart Contract funds do not generate income. Both periodically sell or distribute holdings to cover operating expenses, meaning per-share crypto amounts gradually decline. The rebalance reflects growing selectivity among diversified crypto funds as competition intensifies across smart contract platforms, DeFi protocols and AI-focused blockchain projects.