Grayscale Gives BNB the Crown, Overtakes Ethereum and Solana

Grayscale Investments, with under $45 billion in total Assets Under Management (AUM) has reshuffled one of its biggest crypto investment funds, and BNB has come out on top. The asset manager has made BNB the largest holding in its Smart Contract Fund, pushing both Ethereum and Solana below it. 

Meanwhile, Binance native token BNB has seen a jump of 1% while other large cap coin recored a drop.

BNB Becomes Grayscale’s Largest Smart Contract Holding

Grayscale Investments announced the changes after its second-quarter portfolio review. The biggest update came in its Grayscale Smart Contract Fund (GSC Fund), where BNB entered the portfolio with a 30.6% allocation, making it the fund’s largest holding.

After the rebalance, the fund now holds at;

• BNB: 30.6%
• Ether (ETH): 29.47%
• Solana (SOL): 29.15%
• Cardano (ADA): 4.88%
• Hedera (HBAR): 2.08%
• Avalanche (AVAX): 1.92%
• Sui (SUI): 1.90%

To have more fund for BNB, Grayscale reduced its exposure to existing holdings, with Cardano seeing one of the biggest cuts.

Why Did Grayscale Increase BNB?

The recent portfolio shift shows how institutional interest is changing across Layer-1 blockchains.

BNB Chain has expanded rapidly over the past few months through tokenized assets, decentralized finance (DeFi), and enterprise blockchain activity. The network has also continued attracting developers and users, making it a stronger competitor to Ethereum and Solana.

Market data also showed BNB Chain recently recorded more than $80 million in tokenized ETF related growth, helping strengthen its position among institutional investors.

Instead of increasing the overall size of the fund, Grayscale sold portions of its existing holdings and used those proceeds to add BNB.

Grayscale Also Rebalanced Its Other Crypto Funds

The asset manager also updated two other investment products. In its Grayscale DeFi Fund, Uniswap remained the biggest holding despite a reduction in exposure. The updated allocation includes:

• Uniswap (UNI): 34.16%
• Ondo (ONDO): 25.44%
• Aave (AAVE): 19.97%
• Ethena (ENA): 12.19%
• Curve (CRV): 4.42%
• Lido DAO (LDO): 3.82%

Meanwhile, the Decentralized AI Fund reduced its exposure to NEAR Protocol, although it still remained the largest holding with 31.35%, followed by Bittensor, Render, and Filecoin.

By making BNB its largest Smart Contract Fund holding, Grayscale is signaling that institutional investors now see the Binance ecosystem as one of the strongest blockchain platforms alongside Ethereum and Solana.