Grayscale DeFi Fund has rebalanced its DeFi portfolio:
Increased $UNI and $ENA by more than 5%; reduced $AAVE
I’m guessing they’re betting on the expected fee switch for $UNI$UNI and the stablecoin yield narrative for ENA. AAVE’s fundamentals are still solid, though, so it may just be a case of taking profits. They increased their UNI and ENA holdings by more than 5% and reduced their other positions. This rebalancing makes it clear that Grayscale is betting on leading DeFi protocols—the direction is pretty clear.
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