tl;dr
Grayscale Investments adjusts its portfolios, removing ADA from GDLC fund in accordance with index methodology. Charles Hoskinson reacts to this rebalancing with a “Wall Street give; Wall Street take” comment. GDLC’s new composition stands as BTC 70.96%, ETH 21.84%, SOL 4.52%, XRP 1.73%, AVAX 0.95%....
Grayscale Investments adjusts its portfolios, removing ADA from GDLC fund in accordance with index methodology.
Charles Hoskinson reacts to this rebalancing with a “Wall Street give; Wall Street take” comment.
GDLC’s new composition stands as BTC 70.96%, ETH 21.84%, SOL 4.52%, XRP 1.73%, AVAX 0.95%.
In response to Grayscale Investments' decision to remove Cardano (ADA) from the Grayscale® Digital Large Cap Fund (GDLC), Charles Hoskinson, the founder of Cardano, shared his perspective on the uncertainty of investment strategies and market fluctuations, referring to it as "Wall Street give; Wall Street take." Grayscale conducted a comprehensive review according to the CoinDesk Large Cap Select Index methodology, resulting in the rebalancing of GDLC and the removal of ADA. The revised GDLC portfolio composition, effective from April 3, 2024, includes Bitcoin (BTC) at 70.96%, Ethereum (ETH) at 21.84%, Solana (SOL) at 4.52%, XRP at 1.73%, and Avalanche (AVAX) at 0.95%. Grayscale's other funds, such as the Grayscale DeFi Fund (DEFG) and the Grayscale® Smart Contract Platform Ex-Ethereum Fund (GSCPxE), have also been adjusted in line with their respective index methodologies, reflecting strategic moves to optimize fund performance. However, Grayscale has faced media comments regarding the lack of updates on its Bitcoin holdings, as highlighted by Lookonchain, an on-chain analytics firm, in their latest update from April 1.
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