The new fund marks Grayscale’s 18th investment product and third diversified fund offering.

Grayscale Investments has launched the Grayscale Smart Contract Platform Ex-Ethereum Fund in response to a perceived demand for diversified exposure to crypto protocols leveraging decentralized smart contract technology. (Grayscale)

The Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE)

The fund will invest in various smart contract platforms while tracking the CoinDesk Smart Contract Platform Select Ex ETH Index. The portfolio will be weighted based on market capitalization, and comprised the following platforms as on March 16, 2022:

• Cardano (ADA), 24.63%
• Solana (SOL), 24.27%
• Avalanche (AVAX), 16.96%
• Polkadot (DOT), 16.16%
• Polygon (MATIC), 9.65%
• Algorand (ALGO), 4.27%
• Stellar (XLM), 4.06%

Smart contracts, or programs that run on a blockchain and execute automatically on certain events, find application in DeFi, NFTs and the transfer of funds as per instructions.

“Investor demand for diversified exposure has grown in parallel to the ongoing evolution of the crypto ecosystem,” said Grayscale CEO Michael Sonnenshein.

“Smart contract technology is critical to the growth of the digital economy, but it’s still too early to know which platform will win – from attracting and retaining the most vibrant developer communities, to ensuring the platform is high-speed, flexible, and scalable.”

“The beauty of GSCPxE is that investors do not have to choose one winner, and instead can access the development of the smart contract platform ecosystem through a singular investment vehicle.”

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