Grayscale Investments has adjusted its multi-asset crypto funds for Q3 2025, adding Aerodrome Finance and Story and removing MakerDAO.
Summary
- Grayscale adds Aerodrome (AERO) and Story (IP) to its DeFi and AI funds.
- MakerDAO (MKR) removed from the DeFi Fund during Q3 rebalancing.
- The rebalancing reflects investors’ growing focus on basic and AI-driven blockchain assets.
The changes, implemented on October 3, align with the company’s index methodologies and reflect evolving trends in DeFi, smart contracts and AI-linked tokens.
According to data from Grayscale and CoinDesk Indices, the rebalance impacted three flagship products: the Grayscale Decentralized Finance Fund, the Smart Contract Fund and the Decentralized AI Fund.
These funds are designed to provide investors with diversified exposure to key segments of the digital asset market.
AERO joins the DeFi fund, IP enters the AI portfolio
The DeFi Fund update marked the biggest shift this quarter. Proceeds from the sale of MakerDAO were transferred to Aerodrome Finance, a developing DeFi protocol on Base.
Currently, DEFG includes Uniswap (32.3%), Aave (28.1%), Ondo (19.1%), Lido (7.0%), Curve (6.9%) and Aerodrome (6.6%). This move shows that investors are attracted to protocols that prioritize liquidity and offer opportunities for consistent returns.
To meet index balance requirements, the SCF changed the weights of Ethereum, Solana, Cardano, Avalanche, Sui and Hedera, while keeping the component list intact.
The AI Fund now owns NEAR (25.8%), Bittensor (22.1%), Story (21.5%), Render (12.9%), Filecoin (11.4%) and The Graph (6.2%) in addition to Story (IP), a narrative AI project.
Reflecting the growth in the DeFi and AI sectors
A move towards new ecosystems such as Base and the expanding AI-integrated web3 landscape is indicated by the recent rebalancing. While the inclusion of AERO reflects the increasing use of Base-based protocols, the inclusion of IP reflects investor interest in AI-powered content and infrastructure networks.
Regular updates to Grayscale are intended to maintain openness and alignment with the underlying index methodologies. As a passive investment vehicle, each fund adheres to strict compliance and reporting regulations while providing investors with indirect exposure to developing blockchain sectors.
