Grayscale has added Solana and Uniswap to the Digital Large Cap Fund in its newest quarterly rebalancing. The fund has a value of $495 million. It is the first time Grayscale’s added Solana to an investment vehicle.
Solana now represents 3.24% of the Digital Large Cap Fund while Uniswap sits at 1.06%. Obviously, Bitcoin is in the lead, representing 62% and Ethereum takes second place with 26%. Other coins that are a part of it are Cardano, Chainlink, Litecoin, and Bitcoin Cash.
Solana and Uniswap were acquired after some other assets in the fund were sold. For example, it was revealed that the allocation of Bitcoin fell by 5% since the previous rebalancing. At the same time, the holding of ADA grew to 5.11% from 4.26%.
Many see this as proof that Solana is here to stay and that altcoins are erroding the dominance of Bitcoin.