<\/p>\n
Grayscale added lido to its DeFi fund for the first time since the product’s inception in July 2021.<\/p>\n
The digital assets manager declared<\/a> To install the change friday. Lido (LDO<\/a>) is now the no. 2 assets in the Grayscale DeFi fund, making up 19.04% of it. Uniswap (UNI<\/a>) still reigns supreme accounting for 45.46% of the fund. <\/p>\n Lido, a liquid staking service, also offers a token that’s meant to make staking on Ethereum cheaper. Lido staked ETH (stETH<\/a>) is its most popular product and is the seventh largest cryptocurrency, accordingly<\/a> to CoinGecko. STETH doing well has made LDO, the governance token associated with Lido, more attractive to investors. <\/p>\n Grayscale officially included LDO at the end of the day on Thursday to follow its index provider, CoinDesk’s DeFi Select Index (DFX) Grayscale tweeted.<\/p>\n All of CoinDesk’s indexes, including the DeFi index, are reviewed quarterly. If there are changes, they are implemented on the second business day of January, April, July and October. DFX is specifically \u201cdesigned to measure the market capitalization weighted performance\u201d of digital assets in the DeFi sector.<\/p>\n CoinDesk Indices told Blockworks that LDO met the market cap and liquidity requirements for DFX “for the first time in our April reconstitution.”<\/p>\n \u201cThat put LDO on a watchlist for addition and when it again qualified as part of our July reconstitution it was officially added,\u201d CoinDesk Indices marketing head Kim Greenberg wrote in an email.<\/p>\n \n