BNB Takes Top Spot in Grayscale Smart Contract Fund

Grayscale Investments shook up its portfolio this week, giving BNB a 30.6% weighting in its Smart Contract Fund. This move pushes Ethereum and Solana out of the top rankings after the asset manager completed its second quarter rebalance on August 3.

In the previous quarter, Ethereum held the lead at roughly 30.14%, with Solana close behind at 29.69%. Following the update, BNB now sits at the top, while Ethereum and Solana dropped to 29.47% and 29.15% respectively. Grayscale achieved this by selling off portions of its other holdings to buy into BNB.

Cardano saw the most significant reduction, with its portfolio share falling from nearly 18% down to 4.88%. Other assets including Hedera, Avalanche, and Sui were also trimmed to small positions below 2.1%. Investors should keep an eye on how these rebalances affect market sentiment for the assets that were reduced.

The firm also adjusted its DeFi and AI funds. Ondo saw a notable increase in its weighting to become the second largest position in the DeFi fund, while Uniswap retained the top spot. Meanwhile, the AI fund is now led by Near Protocol at 31.35%.