tl;dr
Grayscale Investments has added Cardano (ADA) to its Smart Contract Fund, alongside Ethereum, Solana, Avalanche, Sui, Near, and Polkadot. The fund is market cap-weighted, with SOL at 31.3%, Ethereum at 31.22%, and Cardano at 18.23%. It rebalances quarterly and has a 30% cap on individual assets. The...
Grayscale Investments has added Cardano (ADA) to its Smart Contract Fund, alongside Ethereum, Solana, Avalanche, Sui, Near, and Polkadot. The fund is market cap-weighted, with SOL at 31.3%, Ethereum at 31.22%, and Cardano at 18.23%. It rebalances quarterly and has a 30% cap on individual assets. The NAV per share is $10.44 with total assets under management at $3,230,325.87 and 309,400 shares outstanding. Cardano's inclusion reflects institutional recognition of its progress in smart contracts, bolstering its position in a sector traditionally dominated by Ethereum.
Grayscale Investments announced additions to its Smart Contract Fund, and Cardano (ADA) is now on the roster. It is stepping up alongside Ethereum, Solana, Avalanche, Sui, Near, and Polkadot, finding its place in the latest fund rebalancing. SOL takes the top spot with 31.3%, just edging out Ethereum at 31.22%. Cardano secures a firm third place at 18.23%. Avalanche is next at 7.26%, while Sui, Near, and Polkadot make up the remaining slices, with 6.50%, 2.95%, and 2.54%, respectively.
The fund sticks to a market cap-weighted approach, but no single asset gets to dominate - there is a 30% cap, keeping things balanced when quarterly rebalancing rolls around. Grayscale's Smart Contract Platform Fund offers investors exposure to blockchain ecosystems without directly owning, storing, or securing digital assets. The NAV per share is $10.44, with a modest 0.19% daily uptick. Total assets under management are at $3,230,325.87 with 309,400 shares outstanding. Institutional investors are taking note of ADA's progress in the smart contract field, strengthening its position in a sector dominated by Ethereum.