Grayscale Investments has added BNB to its Smart Contract Fund, making it the largest holding in the portfolio after the asset manager’s latest quarterly review. The token accounted for 30.6% of the fund as of 3 August, ahead of ether and solana.
Ether represented 29.47% of the fund, while solana made up 29.15%. The remaining holdings were divided between cardano, hedera, avalanche and sui, with each asset accounting for less than 5%.
BNB’s inclusion gives it immediate prominence in a product intended to provide exposure to leading smart contract networks. Grayscale funded the purchase by selling parts of the fund’s existing positions.
The changes were not limited to the Smart Contract Fund. Grayscale also reduced its holding in Uniswap as part of a rebalancing of its Decentralized Finance Fund.
Despite the sale, UNI remained the fund’s largest asset, with a weighting of 34.16%. Ondo was the second-largest holding at 25.44%, followed by Aave at 19.97%. Ethena accounted for 12.19%, while curve and lido DAO occupied the fund’s smallest positions.
The adjustment allows Uniswap to remain central to Grayscale’s DeFi strategy while reducing the portfolio’s reliance on one token. Proceeds from the UNI sale were used to increase the fund’s other existing holdings according to their respective allocations.
A similar change was made to the Decentralized AI Fund, where Grayscale sold part of its NEAR Protocol position and redistributed the proceeds among the other assets already in the portfolio.
NEAR Protocol continued to have the largest weighting in that fund, at 31.35%. Bittensor followed with 29.15%, while Render accounted for 21.59%. Filecoin made up the remaining 17.91%.
The revised structure leaves the Decentralized AI Fund more evenly distributed, although NEAR Protocol and Bittensor still represent more than 60% of its total holdings.
Grayscale said its DeFi and Smart Contract funds do not generate income. The products periodically sell or distribute portions of their assets to meet operating expenses, meaning the amount of cryptocurrency represented by each share gradually declines over time.
The latest moves show how diversified cryptocurrency funds are becoming more selective as competition grows between smart contract platforms, DeFi protocols and blockchain projects connected to artificial intelligence.
Grayscale has also said that onchain vaults could become the next crypto product to achieve broad adoption in traditional finance.
