Grayscale updates their DeFi index and includes Flexa’s AMP

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As part of its quarterly rebalancing, cryptocurrency management company Grayscale revealed a change in the composition of its DeFi index on Tuesday.

According to the company, Bancor and UMA will be removed from the index, while AMP will be added, which crypto deca-unicorn DCG controls. At its inception, Bancor – the decentralized exchange’s token – and UMA – a token related to a protocol for synthetic assets – accounted for 2% and 2.9 percent of the index. Grayscale created the fund and its underlying index in July 2021 to provide institutional investors access to a fast-growing segment of the cryptocurrency industry without needing to own tokens.

In terms of the new feature, AMP is a token utilized as collateral inside the Flexa Network.

AMP will account for 7.39 percent of the fund’s assets. Uniswap and Aave are two other assets in the fund, accounting for 42.33 percent and 13.06 percent.

In 2022, Grayscale, best known for its GBTC product, plans to offer a slew of new financial products related to the crypto market. The company has stated that it plans to transform its GBTC product into an exchange-traded fund. The company has applied with financial authorities to develop an exchange-traded fund (ETF) that would monitor the shares of digital asset firms.

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