Institutional interest fades for SushiSwap and Synthetix as Grayscale removes them from DeFi Fund

Both SUSHI and SNX failed to meet the minimum required criteria of market cap for the Grayscale DeFi Fund.
Grayscale has added three new cryptos – Polkadot, Avalanche and ATOM – across its crypto funds.

As part of its quarterly rebalancing, crypto asset management giant Grayscale ousted SushiSwap (SUSHI) and Synthetix (SNX) from its DeFi fund portfolio. Grayscale dropped both SUSHI and SNX as the two cryptocurrencies failed to meet the qualifying criteria of minimum market capitalization.
Grayscale launched its decentralized finance (DeFi) fund last year in July 2021 following a strong rally in the DeFi market. It now has more than $8 million in net assets under management. After the removal of SushiSwap (SUSHI) and Synthetix (SNX), the digital assets currently in Grayscale’s DeFi fund include Aave, Uniswap, Curve, MakerDAO, Yearn.Finance, Amp, and Compound.
The recent ouster shows that there’s been waning institutional demand for SUSHI and SNX. Going ahead, this could possi

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