Grayscale adds AERO and IP in Q3 rebalancing, removes MKR from DeFi fund
Grayscale Investments has adjusted its multi-asset crypto funds for Q3 2025, adding Aerodrome Finance and Story while removing MakerDAO.
- Grayscale adds Aerodrome (AERO) and Story (IP) to its DeFi and AI funds.
- MakerDAO (MKR) removed from the DeFi Fund during Q3 rebalancing.
- Rebalancing reflects growing investor focus on Base and AI-driven blockchain assets.
The changes, executed on Oct. 3, align with the firm’s index methodologies and reflect shifting trends in DeFi, smart contracts, and AI-linked tokens.
According to data from Grayscale and CoinDesk Indices, the rebalancing affected three flagship products: the Grayscale Decentralized Finance Fund, Smart Contract Fund, and Decentralized AI Fund.
These funds are designed to give investors diversified exposure to key segments of the digital asset market.
AERO joins DeFi fund, IP enters AI portfolio
The DeFi Fund’s update marked the biggest shift this quarter. The 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%). The move shows that investors are drawn to protocols that prioritize liquidity and present chances for consistent yield.
To meet index balance requirements, the SCF modified the weightings of Ethereum, Solana, Cardano, Avalanche, Sui, and Hedera while keeping its component list intact.
The AI Fund, meanwhile, 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-driven AI project.
Reflecting growth in DeFi and AI sectors
A move toward new ecosystems like Base and the expanding AI-integrated web3 landscape is indicated by the recent rebalancing. While AERO’s inclusion reflects the increasing use of Base-based protocols, IP’s inclusion reflects investor interest in AI-powered content and infrastructure networks.
Regular updates from Grayscale are intended to preserve openness and alignment to the underlying index methodologies. Each fund, as a passive investment vehicle, complies with stringent compliance and reporting regulations while providing investors with indirect exposure to developing blockchain sectors.
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