Grayscale Strengthens DeFi and AI Portfolios with New Additions and Adjusted Weightings

Anny Sam
October 10, 2025
11:09 am

Anny Sam

Anny is a skilled crypto writer, delivering clear, engaging content that simplifies complex blockchain concepts for a broad audience.

Grayscale updated portfolio weightings for its DeFi, Smart Contract, and AI Funds in the third quarter of 2025.
MakerDAO was replaced with Aerodrome Finance in the DeFi Fund portfolio.
The AI Fund added Story (IP), expanding its focus on decentralized AI infrastructure.

Grayscale Investments, one of the most recognized names in digital asset management, has released its third-quarter 2025 fund review. The company updated the portfolio compositions of its three major products, the Grayscale Decentralized Finance (DeFi) Fund, the Smart Contract Fund, and the Decentralized AI Fund.

These updates align with the CoinDesk Index methodologies that guide each fund’s rebalancing process. The latest adjustments reflect the ongoing evolution within the digital asset ecosystem.

Each fund seeks to maintain exposure to leading projects in its category while adapting to market changes. Through these quarterly reviews, Grayscale aims to keep its funds representative of the most relevant and active blockchain projects.

Grayscale Rebalances DEFG to Reflect DeFi Market Trends

In the latest update, the Grayscale DeFi Fund (DEFG) replaced MakerDAO (MKR) with Aerodrome Finance (AERO). The adjustment was made by selling MKR and reallocating proceeds among existing components.

As a result, DEFG now includes six DeFi assets with new weightings: Uniswap (32.32%), Aave (28.07%), Ondo (19.07%), Lido (7.02%), Curve (6.92%), and Aerodrome Finance (6.60%).

Aerodrome Finance’s inclusion marks a shift toward projects emphasizing liquidity optimization and protocol growth. Its rise in decentralized finance activity made it a suitable addition to the portfolio. The change underscores Grayscale’s ongoing effort to align fund components with real-time innovation across DeFi markets.

Expanding Exposure Across Smart Contract and AI Sectors

The Grayscale Smart Contract Fund (GSC) underwent a proportional rebalance to maintain balanced exposure among key networks. The fund’s composition remains focused on major blockchain platforms such as Ether (30.32%), Solana (30.97%), Cardano (18.29%), Avalanche (7.57%), Sui (7.35%), and Hedera (5.50%).

These assets reflect continued investor confidence in scalable and interoperable blockchain ecosystems. Meanwhile, the Grayscale Decentralized AI Fund (AI Fund) added a new component, Story (IP), which represents decentralized data and AI infrastructure.

The AI Fund now holds NEAR Protocol (25.81%), Bittensor (22.15%), Story (21.53%), Render (12.91%), Filecoin (11.39%), and The Graph (6.21%). This update highlights Grayscale’s focus on emerging technologies where AI and blockchain intersect.

Although none of the funds generate income, they distribute assets periodically to cover operational expenses. As a result, the number of assets represented by each share gradually decreases over time.