Grayscale Updates Fund Portfolios, Adds Aerodrome Finance and Story Tokens in Q3 Review
Grayscale Investments, the world’s largest digital asset investment manager, has rebalanced three of its crypto-focused funds as part of its third-quarter 2025 portfolio review, introducing new assets to its DeFi and AI funds while maintaining broad exposure across major blockchain networks. DeFi Fund Adds Aerodrome, Drops MakerDAO Grayscale’s Decentralized Finance (DeFi) Fund (OTCQB: DEFG) underwent the most notable adjustment, removing MakerDAO (MKR) and adding Aerodrome Finance (AERO) in line with the CoinDesk DeFi Select Index methodology. The changes took effect at the close of trading on Oct. 3. Following the rebalance, the DeFi Fund’s six-component portfolio includes Uniswap (UNI) at 32.32%, Aave (AAVE) at 28.07%, Ondo (ONDO) at 19.07%, Lido (LDO) at 7.02%, Curve (CRV) at 6.92%, and Aerodrome Finance (AERO) at 6.60%. Grayscale said the adjustments reflect the index’s methodology, which periodically updates its composition to better represent the decentralized finance market. The DeFi Fund, launched to track emerging DeFi protocols, continues to distribute components periodically to cover fund expenses. Smart Contract Fund Retains Core Holdings The Grayscale Smart Contract Platform Fund (GSC Fund) kept its existing assets but modified their weightings. The portfolio’s top holdings remain Solana (SOL) at 30.97% and Ether (ETH) at 30.32%, followed by Cardano (ADA) at 18.29%, Avalanche (AVAX) at 7.57%, Sui (SUI) at 7.35%, and Hedera (HBAR) at 5.50%. These updates align with the CoinDesk Smart Contract Platform Select Capped Index, which seeks to balance exposure among major blockchain networks competing for decentralized application development. AI Fund Adds Story Token to Portfolio Grayscale’s Decentralized AI Fund (AI Fund) added Story (IP) to its holdings, marking a diversification into decentralized artificial intelligence infrastructure projects. The addition came through a proportional rebalance of existing assets, consistent with the fund’s index methodology. As of Oct. 3, the AI Fund’s updated portfolio consists of NEAR Protocol (NEAR) at 25.81%, Bittensor (TAO) at 22.15%, Story (IP) at 21.53%, Render (RENDER) at 12.91%, Filecoin (FIL) at 11.39%, and The Graph (GRT) at 6.21%. Grayscale noted that none of the funds generate income and each periodically distributes underlying assets to pay for operational costs, leading to a gradual decline in the number of components represented per share.
SharpLink Reports 451 ETH in Weekly Staking Rewards
SharpLink Gaming said it generated 451 ether (ETH) in staking rewards over the past week, bringing its total cumulative earnings to 4,723 ETH since it launched its Ethereum staking strategy on June 2, 2025. The company disclosed the update on social media, noting that its entire ETH treasury remains staked, producing an estimated $370,000 worth of ETH per day through both liquid and native staking mechanisms. SharpLink also clarified that it made no ETH purchases or stock buybacks during the same period, adding that there would be no press release related to treasury activity this week. According to the post, the firm’s approach underscores its view of Ethereum as a productive and yield-bearing asset that compounds value over time. ETH Treasury Strategy and Performance SharpLink’s update signals continued confidence in Ethereum’s staking model as a revenue-generating tool. The company’s decision to maintain a fully staked treasury reflects a long-term approach centred on yield accumulation rather than active trading or buybacks. While the firm did not provide additional financial disclosures, its public estimate of daily staking returns suggests a steady compounding effect within its ETH reserves. The reference to both liquid and native staking indicates diversification between directly managed validator operations and third-party liquidity platforms. By choosing to share weekly staking data, SharpLink continues its practice of providing transparency around treasury management—an uncommon approach among corporate ETH holders. Co-CEO Highlights Long-Term Ethereum Outlook SharpLink Co-CEO Joseph Chalom also weighed in, describing the current market environment as “the first inning of Ethereum’s multi-decade investor opportunity.” In a separate post, Chalom reiterated the company’s focus on investor transparency, risk-adjusted staking yields, and support for Ethereum’s broader financial infrastructure role. He emphasized that Ethereum’s position in the company’s strategy is not peripheral but central, stating that “ETH is not a part of our strategy, it is the strategy.” Chalom said SharpLink aims to continue increasing its ETH-per-share concentration while applying what he called “institutional-grade discipline.” His remarks reflect a consistent view among ETH-focused entities that see staking returns as both a treasury management tool and a long-term exposure strategy to blockchain network growth.