On Friday morning, Grayscale filed a notice with the SEC detailing the rebalancing.
The Grayscale fund manages $163 million in assets.
After the Grayscale Digital Large Cap Fund liquidated its investment in the Avalanche network on Thursday, the AVAX token dropped by around 3% on Friday.
On Friday morning, Grayscale filed a notice with the SEC detailing the rebalancing, explaining that it had “adjusted the fund’s portfolio by selling Avalanche (“AVAX”) and using the cash proceeds to purchase the existing fund components in proportion to their respective weightings.”
In a thread on Twitter, the business said that it has also rebalanced its DeFi Fund to include Synthetix (SNX) while selling off Algorand (ALGO) from its Smart Contract Platform Ex-Ethereum Fund. Last month, Avalanche’s token appreciated by 6.9 percent, reaching $13.65 as per data from CMC. However, early Friday trade showed a 15% drop from the previous month, to $11.56.
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