Grayscale, a crypto asset manager added altcoins solana and uniswap to one of its funds, according to a company announcement on Friday.
The company said it had added the solana network’s sol token and uniswaps’ uni to its Digital Large Cap Fund, which has $494.6 million assets under management, according to its website. The weightings were adjusted so that bitcoin would have the largest weight followed by ether, ada, sol and then uni based on “quarterly reviews”, Grayscale said.
Sol and uni have picked up steam in 2021 in terms of popularity among traders. Sol has gained 335% so far this year, while uni has risen 197%, according to Coinbase data, thanks in large part to the decentralized-finance capabilities of their respective networks.
“(This) is the first time solana will be included in a Grayscale investment vehicle,” the press release said.
The company said it had also adjusted the weight of the Grayscale DeFi Fund so uniswap is the top weighted token, ahead of the likes of aave, makerdao and sushi.
Uniswap, first conceived in 2016 by ethereum co-founder Vitalik Buterin and later developed in 2018 by Hayden Adams and Uniswap Labs, is a decentralized exchange and hosts the uni token.
So-called “DEX tokens” such as uni and sushi shot up in late September after China effectively banned all crypto-related activity, which lured a lot of users to decentralized exchanges, where transactions happen without any intermediaries.
Sol has outperformed most other major coins this year, thanks to a series of upgrades that will make its network capable of running smart contracts, much like larger rival ethereum.
Sol was last down 2.4 % over the last 24 hours to $167.09 at 05:46 a.m. ET, while uni was also 3% lower on the day around $25.29, according to Binance data.