Grayscale Investments Announces Updates to Crypto Fund Holdings

Grayscale Investments announces portfolio adjustments for Digital Large Cap Fund (GDLC), DeFi Fund (DEFG), and Smart Contract Platform Ex-Ethereum Fund (GSCPxE) based on quarterly reviews. GDLC has removed Cardano (ADA) and adjusted component weightings, while DEFG and GSCPxE maintain their current components. All funds continue to distribute Fund Components for ongoing expenses, resulting in a gradual decrease in component holdings. Grayscale emphasizes that its funds do not generate income and have not yet met their investment objectives, and shares may trade at premiums or discounts to component value.

Grayscale Investments Announces Updates to Cryptocurrency Fund Component Weightings

STAMFORD, Conn., April 04, 2024 - Grayscale Investments®, the world's largest crypto asset manager*, today announced adjustments to the component weightings of three of its publicly traded crypto asset funds:

• Grayscale® Digital Large Cap Fund (OTCQX: GDLC)
• Grayscale® DeFi Fund (OTCQB: DEFG)
• Grayscale® Smart Contract Platform Ex-Ethereum Fund (GSCPxE Fund)

These updates are based on the findings of Grayscale's first quarter 2024 reviews of each fund's respective underlying index methodologies.

Grayscale® Digital Large Cap Fund (GDLC)

In accordance with the CoinDesk Large Cap Select Index methodology, Grayscale has sold Cardano (ADA) from GDLC's portfolio and used the proceeds to purchase existing Fund Components in proportion to their respective weightings. As a result, Cardano (ADA) has been removed from GDLC.

Effective April 3, 2024, GDLC's Fund Components are as follows:

• Bitcoin (BTC), 70.96%
• Ethereum (ETH), 21.84%
• Solana (SOL), 4.52%
• XRP, 1.73%
• Avalanche (AVAX) 0.95%

Grayscale® DeFi Fund (DEFG)

No new tokens were added or removed from DeFi Fund. As of April 3, 2024, DEFG's Fund Components are as follows:

• Uniswap (UNI), 48.74%
• MakerDAO (MKR), 20.41%
• Lido (LDO), 13.17%
• Aave (AAVE), 9.99%
• Synthetix (SNX), 7.69%

Grayscale® Smart Contract Platform Ex-Ethereum Fund (GSCPxE)

In accordance with the CoinDesk Smart Contract Platform Select ex ETH Index, Grayscale has sold Cosmos (ATOM) from GSCPxE's portfolio and used the proceeds to purchase existing Fund Components in proportion to their respective weightings. As a result, Cosmos (ATOM) has been removed from GSCPxE.

Effective April 3, 2024, GSCPxE's Fund Components are as follows:

• Solana (SOL), 58.41%
• Cardano (ADA), 14.56%
• Avalanche (AVAX), 12.25%
• Polkadot (DOT), 8.53%
• Polygon (MATIC), 6.25%

Investment Considerations

Investors should note that neither GDLC, nor DEFG, nor GSCPxE Fund generates any income, and all regularly distribute Fund Components to pay for ongoing expenses. Therefore, the amount of Fund Components represented by shares of each fund gradually decreases over time.

About Grayscale Investments®

Grayscale enables investors to access the digital economy through a family of regulated and future-forward investment products. Founded in 2013, Grayscale has a proven track record and deep expertise as the world's largest crypto asset manager. Investors, advisors, and allocators turn to Grayscale for single asset, diversified, and thematic exposure. Grayscale products are distributed by Grayscale Securities, LLC (Member FINRA/SIPC).

*Largest by AUM as of April 4, 2024

About the CoinDesk Indices

The CoinDesk Large Cap Select Index, CoinDesk DeFi Select Index, and CoinDesk Smart Contract Platform Select Ex ETH Index are designed to measure the performance of a select group of digital assets within their respective segments of the digital asset market. These indices are calculated and published by CoinDesk, a leading digital asset media and data company.

Disclaimer

This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

Media Contact

Jennifer Rosenthal
press@grayscale.com