As of January 6, 2026, Grayscale conducted a quarterly rebalancing of three funds simultaneously. Such updates are useful because they help identify which sectors and projects institutional investors currently consider priorities.
Grayscale DeFi Fund
The main focus remains on infrastructure DeFi protocols with real-world usage:
Uniswap and Aave account for nearly 70% of the fund, highlighting the focus on liquidity and lending.
Ondo stands out as a representative of the RWA segment, which is gradually becoming part of traditional DeFi.
Curve and Lido complement the basket as key components of liquidity and staking ecosystems.
For beginners, it's important to understand: this is not a bet on 'trendy tokens,' but on protocols through which real capital actually flows.
Smart Contracts Fund (GSC)
Here we see a drive toward diversification across different blockchain ecosystems:
Solana and Ethereum are almost equal in weight, indicating recognition of Solana as a full-fledged alternative rather than a temporary trend.
Cardano, Sui, and Avalanche add exposure to younger but actively developing networks.
Hedera is included as a corporate-oriented solution with its own distinct use logic.
This shows that institutions are not betting on a single 'winning' blockchain, but are spreading risk.
Decentralized AI Fund
Here the structure reflects an attempt to build infrastructure for the AI sector:
Bittensor and NEAR form the foundation of the fund as networks focused on computation and scalability.
Render and Filecoin provide exposure to GPU resources and data storage.
Story and The Graph complement the ecosystem at the data and indexing level.
For the market, this is a signal that the AI theme in crypto is being viewed not as hype, but as a long-term infrastructural trend.
Conclusion
Grayscale's quarterly rebalancing is not a trading signal, but it clearly shows where institutional capital is looking in the long term. The main focus remains unchanged: foundational infrastructure, real-world use cases, and diversification across sectors.
Beginners should view such updates as a guide to understanding market structure, rather than as direct action recommendations.