Key Points
Grayscale published its Q2 2026 multi-asset fund rebalancing on August 5. NEAR Protocol was removed from the AI Fund in this cycle. Sui received a 1.9% weighting in the rebalanced AI Fund portfolio. Rebalancing proceeds from NEAR sales were used to fund portfolio adjustments.
Grayscale Investments announced its second quarter 2026 rebalancing of multi-asset funds on Aug. 5, removing NEAR Protocol (NEAR) from its AI Fund and establishing a 1.9% position in Sui (SUI).
The asset manager published the details in an official release on Wednesday. According to the release, Grayscale sold NEAR from the AI Fund and used the proceeds for rebalancing in line with the fund's published methodology.
What Changed In The AI Fund
Grayscale's AI Fund tracks assets the manager classifies as relevant to artificial intelligence infrastructure within crypto markets. NEAR Protocol had been part of that basket. The Q2 rebalancing removed it entirely. SUI entered the portfolio at a 1.9% weight. The fund's methodology calls for periodic reviews of constituent assets.
Grayscale applies a rules-based process for these additions and removals. The SUI entry reflects a shift in how Grayscale classifies layer 1 smart contract platforms with on-chain AI activity relative to pure computation-layer protocols.
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SUI Replaced As AI Fund Favors Newer L1 Momentum
Grayscale has conducted quarterly rebalancings of its multi-asset products throughout 2026. In prior quarters, the manager made adjustments to both its DeFi and Large Cap funds.
The removal of NEAR follows a broader pattern in which protocols that had early AI narrative momentum have seen that narrative challenged by newer L1 competitors. SUI has gained exchange trading volume and on-chain developer activity in recent months, which may have contributed to its inclusion in the AI Fund basket.
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