Key Takeaways
- Grayscale added BNB at 30.6%, ahead of ether and solana in its Smart Contract Fund.
- BNB’s 30.6% lead boosts its institutional profile as Grayscale trims UNI and NEAR.
- Grayscale’s Q3 2026 review will test whether BNB keeps its lead over ether and solana.
Grayscale Uses Q2 Review to Reweight 3 Crypto Funds
Grayscale Investments has added BNB to its Smart Contract Fund, placing the token ahead of ether and solana in the portfolio after its latest quarterly rebalancing.
As of Aug. 3, BNB accounted for 30.6% of the fund. Ether followed at 29.47%, while solana represented 29.15%. The remaining allocation was spread across cardano, hedera, avalanche and sui. Each held less than 5% of the portfolio.
The addition gives BNB immediate prominence in a product designed to offer exposure to leading smart contract networks. Grayscale funded the purchase by selling portions of the fund’s existing holdings.
Uniswap Remains Largest DeFi Holding
Grayscale also reduced the amount of uniswap held by its Decentralized Finance Fund. Even after the sale, UNI remained the product’s largest asset, with a 34.16% weighting.
Ondo ranked second at 25.44%, followed by Aave at 19.97%. Ethena represented 12.19%, while curve and lido DAO made up the smallest positions.
The rebalance suggests Grayscale is keeping uniswap at the center of its DeFi strategy while reducing the portfolio’s dependence on a single token. The fund used the proceeds from its UNI sale to increase its other existing positions in line with their respective allocations.
NEAR Leads AI Fund After Trim
Grayscale made a similar adjustment to its Decentralized AI Fund, selling part of its NEAR Protocol position and directing the proceeds into the other assets already held by the fund.
NEAR still retained the largest weighting at 31.35%. Bittensor followed closely at 29.15%, while Render accounted for 21.59%. Filecoin represented the remaining 17.91%. The changes leave the AI fund more evenly distributed, although NEAR and Bittensor still make up more than 60% of the portfolio.
Grayscale said its DeFi and Smart Contract funds do not generate income. Both products periodically sell or distribute portions of their holdings to cover operating expenses. As a result, the amount of crypto represented by each share gradually declines over time.
The latest rebalancing highlights how diversified crypto funds are becoming more selective as competition intensifies among smart contract platforms, DeFi protocols and blockchain projects tied to artificial intelligence.
