BNB Surges Past Ethereum and Solana in Grayscale's Smart Contract Fund

Grayscale Investments has made significant changes to its Smart Contract Fund in its Q2 rebalance, effective August 3. BNB (BNB) now holds the top spot with a 30.6% weighting, surpassing Ethereum (ETH) and Solana (SOL), which now hold 29.47% and 29.15%, respectively.

The change marks a significant shift in the fund's composition, with BNB entering at 30.6% while ETH and SOL dropped to second and third place. Cardano (ADA) took the sharpest hit, losing 13.08 percentage points to 4.88%. Other tokens such as Hedera (HBAR), Avalanche (AVAX), and Sui (SUI) also saw their weightings decrease.

The rebalance also affected Grayscale's DeFi and AI funds. In the DeFi Fund, Ondo (ONDO) rose to 25.44%, pushing Aave (AAVE) to second place. Uniswap (UNI), which was sold by Grayscale, remains the top holding in the fund at 34.16%. Near Protocol (NEAR) leads the AI Fund with a 31.35% weighting.