Market Analysis Report (23 Mar 2022)

Grayscale has launched a new fund offering investors exposure to a variety of smart contract networks other than Ethereum that have emerged amid the growth of decentralized finance (DeFi).

The fund, called the Grayscale Smart Contract Platform ex Ethereum Fund (GSCPxE), holds alternative smart contract ecosystems Cardano ($ADA), Solana (SOL) Avalanche (AVAX), Polkadot (DOT), Polygon (MATIC), Algorand (ALGO) and Stellar (XLM).

According to Grayscale CEO Michael Sonneshein, the fund enables investors to bet on a variety of developing platforms instead of betting on one emerging as the primary venue for DeFi and decentralized applications.

The fund’s holdings are weighted by market capitalization with Cardano and Solana having the two highest weights in the fund, each making up over 24% of holdings.