Ethena Jumps 4% After Grayscale Adds It to DeFi Fund in Q1 Rebalancing
Grayscale Investments reshuffled its crypto portfolios this week as part of its Q1 2026 fund rebalancing. The firm removed Aerodrome Finance from its DeFi Fund and replaced it with Ethena, a yield-focused decentralized finance protocol.
Ethena rose 4.33% in the last 24 hours following the announcement. Grayscale also made adjustments to its Smart Contract Fund, though no new assets were added to that portfolio.
The biggest change came in Grayscale’s DeFi Fund. Following the CoinDesk DeFi Select Index methodology, the firm sold AERO and portions of other existing holdings to purchase ENA.
As of May 1, 2026, the fund holdings stood at:
Grayscale also adjusted the weightings of its Smart Contract Fund using the CoinDesk Smart Contract Platform Select Capped Index methodology. Unlike the DeFi Fund, no assets were removed or added.
The updated allocations are:
The allocation shows Grayscale still heavily favors established smart contract ecosystems led by Ethereum and Solana.
These updates give a simple look into where institutional investors believe crypto is heading. Grayscale appears to be betting more on DeFi projects connected to stablecoins, yield, and tokenized assets rather than only trading platforms.
At the same time, the company is still keeping strong exposure to big blockchain ecosystems like Ethereum and Solana, which continue to dominate developer activity and liquidity in crypto markets.
Overall, rebalances like this reflect where capital is rotating. The question is whether flows follow or lag.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Ripple has filed new trademarks covering prime brokerage, securities lending, and clearing services, signaling a…
Popular Crypto Investor & Bankless Co-founder David Hoffman revealed that he sold his Ethereum holdings,…
The crypto industry is turning its attention to June, a month many see as crucial…
The Terra Classic price is showing renewed strength as improving market sentiment and a sharp…
BlackRock saw a massive $1.29 billion dark pool transaction tied to its IBIT Bitcoin ETF,…
South Korea prosecutors have made the country’s first arrest and prosecution tied to a decentralized…
