Grayscale Investments reshuffled its Smart Contract Fund on August 3, pushing BNB into the lead with a 30.6% allocation. Ether dropped to second at 29.47%, with Solana trailing at 29.15%. The move came as part of the fund's quarterly rebalancing under its index methodology, not a discretionary bet on BNB's prospects.
The new weighting represents a significant shift from May, when Ether topped the holdings at 30.14% and Solana sat at 29.69%. Back then BNB wasn't even in the basket. Cardano, once the third-largest holding, fell to just 4.88% after Grayscale sold proportional amounts of each existing position to fund BNB's entry.
Smaller allocations now include Hedera at 2.08%, Avalanche at 1.92%, and Sui at 1.9%. The mechanics were straightforward: Grayscale liquidated pieces of its previous holdings and deployed the proceeds into BNB, keeping Ether and Solana weights largely intact while compressing the mid-tier bets. The rebalance followed the CoinDesk Smart Contract Platform Select Capped Index methodology, a market-cap weighted framework that automatically adjusts when composition shifts.
In its DeFi Fund, Uniswap remained the largest holding at 34.16% even after Grayscale trimmed its UNI exposure. Meanwhile the AI Fund saw NEAR lead at 31.35% despite partial position sales. Published weightings may drift after August 3 as markets move, though the index rules dictate the fund's next refresh.
This article is informational only and should not be construed as investment advice. Cryptocurrency and fund allocations carry risk, and past rebalancing does not guarantee future returns.
