Grayscale's DeFi Fund (DEFG) is a passively managed investment vehicle that provides exposure to a basket of decentralized finance (DeFi) tokens. The fund was launched in July 2021, while officially being launched on the OTC market December 2022. DEFG is one of the first securities to offer investors exposure to the DeFi market in a regulated and easy-to-trade format.
Recent News and Developments
DEFG Shares Outstanding Reach 233,960: As of September 2023, there were 233,960 DEFG shares outstanding. This represents a significant increase from the fund's inception, when there were just 100,000 shares outstanding.
DEFG AUM Reaches $2.8 Billion: As of September 2023, the DEFG had an AUM of $2.8 billion. This represents a significant increase from the fund's inception, when it had an AUM of just $50 million.
Grayscale Files Application to Convert DEFG to an ETF: In August 2023, Grayscale filed an application with the Securities and Exchange Commission (SEC) to convert the DEFG to an exchange-traded fund (ETF). An ETF would make the DEFG more accessible to investors and would also allow for more efficient trading.
Potential Impact of SEC Approval
If the SEC approves Grayscale's application to convert the DEFG to an ETF, it would be a major milestone for the DeFi market. An ETF would make the DEFG more accessible to a wider range of investors and would also help to legitimize the DeFi market as a whole.
Check out my video providing additional analysis: https://youtu.be/LGOUHJlmsGQ
May the Horse be with you!
Written by Eric White