Overview
- Grayscale completed its second‑quarter rebalances effective at market close on Aug. 3 and published the results on Aug. 5, adding BNB to the Smart Contract Fund and assigning it about 30.6% of the portfolio.
- The Smart Contract Fund’s top three holdings are now BNB (~30.6%), Ether (~29.47%), and Solana (~29.15%), with smaller allocations to Cardano, Hedera, Avalanche, and Sui.
- Grayscale followed the CoinDesk Smart Contract Platform Select Capped Index methodology, which required proportional sales of existing components to fund the BNB purchase rather than a discretionary bet on BNB.
- The firm also trimmed Uniswap in the DeFi Fund (UNI remains the largest holding at ~34.16%) and reduced NEAR in the Decentralized AI Fund (NEAR still leads at ~31.35%), with all published weights reflecting end‑of‑day Aug. 3 snapshots that can change daily.
- The Smart Contract Fund is small by assets under management (about $1.56 million) and has a 2.50% expense ratio, and Grayscale’s separate, preliminary SEC filing for a spot BNB ETF (proposed ticker GBNB) remains unresolved and should not be conflated with the fund rebalance.