Yeliz Akmaca 
Grayscale announced its portfolio update for Q3 2025, adding Aerodrome Finance (AERO) to the DeFi Fund and Story (IP) to the AI Fund, rebalancing fund components. This move is seen as a significant development for crypto investors and altcoin trend followers.
Additionally, in the previous quarterly report, Grayscale updated its Top 20 crypto asset list with strategic moves. This quarter, Lido DAO (LDO) and Optimism (OP) were removed, while Avalanche (AVAX) and Morpho (MORPHO) were added. Avalanche has strengthened its position among smart contract platforms through its MapleStory integration and increasing stablecoin activity.
DeFi Fund (DEFG) Update
As of Q3 2025, Grayscale made major changes in its DeFi Fund (DEFG) portfolio.
Removed asset: MakerDAO (MKR) was excluded from fund components.
Added asset: Aerodrome Finance (AERO) (6.60% weight) was added to the portfolio.
As of October 3, 2025, DEFG portfolio allocation:
Uniswap (UNI): 32.32%
Aave (AAVE): 28.07%
Ondo (ONDO): 19.07%
Lido (LDO): 7.02%
Curve (CRV): 6.92%
Aerodrome Finance (AERO): 6.60%
This update balanced the DeFi Fund with liquidity, protocol growth, and promising projects. The change closely correlates with coin prices and rising interest in DeFi projects.
Smart Contract Fund (GSC) Update
Grayscale rebalanced its Smart Contract Fund (GSC) in Q3 2025, adjusting the weightings of existing components.
As of October 3, 2025, GSC portfolio allocation:
Ether (ETH): 30.32%
Solana (SOL): 30.97%
Cardano (ADA): 18.29%
Avalanche (AVAX): 7.57%
Sui (SUI): 7.35%
Hedera (HBAR): 5.50%
Grayscale rebalanced the portfolio to optimize the performance of emerging coins and blockchain projects.
AI Fund Update
Grayscale’s AI Fund also added Story (IP) in Q3 2025 (21.53% weight).
As of October 3, 2025, AI Fund portfolio allocation:
NEAR Protocol (NEAR): 25.81%
Bittensor (TAO): 22.15%
Story (IP): 21.53%
Render (RENDER): 12.91%
Filecoin (FIL): 11.39%
The Graph (GRT): 6.21%
The inclusion of IP highlights the integration of AI and blockchain, strengthening the fund’s innovative structure. This move serves as a key indicator for investors tracking market analysis and investment opportunities.
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