Close Menu
AlexaBlockchain
  • News
  • Press Releases
    • Submit Press Release
  • Adoption
  • Funding
  • Interview
  • Policy
  • Explained
    • Bitcoin Halving 2024: Will it Trigger the Next Bull Run?
    • Everything You Wanted to Know About Bitcoin But Were Too Afraid To Ask
    • Cryptocurrency: what makes it so popular?
    • Top Five Crypto Scams And How To Avoid Them
    • Cloud Mining Explained
    • What are NFTs?
    • What is a Web3 Browser?
    • How To Build High Quality Crypto Backlinks
  • About
  • Advertise
  • Trending
    • #BitcoinHalving
    • #CloudMining
    • #Web3.0
    • #Metaverse
    • #NFTs
    • #PlayToEarn
    • #DeFi
    • #BlockchainTechnology
    • #Bitcoin
    • #Cryptocurrency
    • #DigitalAssets
Facebook X (Twitter) Instagram
Sunday, June 22
  • Advertise
  • Crypto PR
  • Partner
  • Submit Press Release
  • Contact Us
X (Twitter) Facebook LinkedIn Instagram
AlexaBlockchain
Banner
  • News
  • Press Releases
    • Submit Press Release
  • Adoption
  • Funding
  • Interview
  • Policy
  • Explained
    • Bitcoin Halving 2024: Will it Trigger the Next Bull Run?
    • Everything You Wanted to Know About Bitcoin But Were Too Afraid To Ask
    • Cryptocurrency: what makes it so popular?
    • Top Five Crypto Scams And How To Avoid Them
    • Cloud Mining Explained
    • What are NFTs?
    • What is a Web3 Browser?
    • How To Build High Quality Crypto Backlinks
  • About
  • Advertise
  • Trending
    • #BitcoinHalving
    • #CloudMining
    • #Web3.0
    • #Metaverse
    • #NFTs
    • #PlayToEarn
    • #DeFi
    • #BlockchainTechnology
    • #Bitcoin
    • #Cryptocurrency
    • #DigitalAssets
AlexaBlockchain
You are at:Home » Grayscale Adds Cardano To Its Digital Large Cap Fund’s Portfolio
News

Grayscale Adds Cardano To Its Digital Large Cap Fund’s Portfolio

AB News DeskBy AB News DeskJuly 2, 2021Updated:July 2, 2021No Comments3 Mins Read
Twitter Facebook LinkedIn Reddit Email WhatsApp
grayscale investments - AlexaBlockchain
Share
Twitter Facebook LinkedIn Pinterest Reddit Telegram Email WhatsApp

United States, July 2, 2021 /AlexaBlockchain/ – Grayscale Investments today announced that Proof-of-stake blockchain platform Cardano has been added to Its Digital Large Cap Fund’s Portfolio.

Grayscale Investments was founded in 2013 by Barry Silbert. It has now become the world’s largest cryptocurrency asset manager, with more than $30.4B in assets under management (AUM) as of July 1, 2021.

Grayscale Adds Cardano

Cardano is a smart contract platform created by Charles Hoskinson, a co-founder of Ethereum.

In accordance with the Fund’s construction criteria, Grayscale has adjusted the Fund’s portfolio by selling certain amounts of the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase Cardano (ADA). This announcement follows the April 2021 news that Grayscale adjusted the Fund’s portfolio and purchased Chainlink (LINK).

Edward McGee, Vice President of Finance at Grayscale, said:

“We are excited to welcome Cardano to our Digital Large Cap Fund’s portfolio as we work to ensure that our diversified Fund can safely hold assets that collectively comprise 70% of the entire digital asset market. Digital currencies represent a unique opportunity for investors to diversify their portfolios, and at Grayscale, we are proud to provide our investors with access to leading digital currencies through regulated, familiar product offerings.”

Grayscale is Highly Bullish on Cardano (ADA)

Grayscale is looking highly bullish on Cardano (ADA). The proof-of-stake platform which was not in the portfolio of Grayscale Digital Large Cap Fund, now accounts for 4.26% of the portfolio. This is the third largest digital assets in the portfolio now.

At the end of the day on July 1, 2021, Grayscale reported that the Fund portfolio comprised of 67.47% Bitcoin (BTC), 25.39% Ethereum (ETH), 4.26% Cardano (ADA), 1.03% Bitcoin Cash (BCH), 0.99% Litecoin (LTC), and 0.86% Chainlink (LINK) and each Share represented 0.00044919 Bitcoin (BTC), 0.00263059 Ethereum (ETH), 0.71069603 Cardano (ADA), 0.0046159 Bitcoin Cash (BCH), 0.00160755 Litecoin (LTC), and 0.01053027 Chainlink (LINK).

The Fund does not generate any income and regularly distributes Fund Components to pay for its ongoing expenses. Therefore, the amount of Fund Components represented by each Share gradually decreases over time.

Why is Grayscale Bullish on Cardano?

Investors are bullish on Cardano in anticipation of full smart contract implementation later this summer. More than $31 billion worth of ADA, the native token of Cardano, has been staked in anticipation of the major milestone in the network’s evolution — one that could set the stage for wider network adoption and a more considerable price appreciation for the cryptocurrency.

71.66% of ADA’s circulating supply, worth around $31.24 billion at today’s prices, have been staked across 2,677 active pools, according to data provider PoolTool. On Friday, the price of ADA was $1.36, having gained 1.29% in the past 24 hours, according to CoinMarketCap.

###

Frequently Asked Questions

What is Cardano?

Cardano is a smart contract platform created by Charles Hoskinson, a co-founder of Ethereum. Informed by academic research, Cardano aims to improve upon the scalability, security, and efficiency of Ethereum by using a novel proof-of-stake (PoS) consensus mechanism called Ouroboros. ADA is the native token of the Cardano network that allows holders to engage in peer-to-peer transactions and stake as collateral to contribute to the network’s consensus mechanism.

Grayscale
Share. Twitter Facebook LinkedIn Reddit Pinterest Tumblr Telegram Email WhatsApp
AB News Desk
  • Website

AB News Desk is a trained group of web journalists and reporters who collect news from all over the blockchain market landscape. AB News Desk covers developments on Blockchain Industry including Distributed Ledger, Smart Contracts, Digital Assets, Cryptos, FinTech, Bitcoin, DApps, DeFi, and more. To connect, please write to Editor at info@alexablockchain.com.

More AlexaBlockchain

Arab Bank Switzerland Launches First Bitcoin Yield Product for Wealthy Clients with XBTO Partnership

June 19, 2025

The RARI Foundation Just Proved NFTs Are Evolving—Not Fading

June 18, 2025

LERN360.ai Launches Seed Round to Build the “Coursera of On-Chain Learning”

June 17, 2025

Tristan Thompson Joins AxonDAO as Board Member and Partner

June 17, 2025

Human Passport Brings Privacy-First Sybil Resistance to Base

June 13, 2025

SynFutures Launches Builder Program to Expand Modular DeFi Ecosystem

June 11, 2025
Add A Comment

Comments are closed.

Don't Miss

Arab Bank Switzerland Launches First Bitcoin Yield Product for Wealthy Clients with XBTO Partnership

The RARI Foundation Just Proved NFTs Are Evolving—Not Fading

LERN360.ai Launches Seed Round to Build the “Coursera of On-Chain Learning”

Tristan Thompson Joins AxonDAO as Board Member and Partner

Trending Topics
  • Blockchain News
  • Blockchain Technology
  • Blockchain Platforms
  • Blockchain Regulation
  • Bitcoin News
  • Ethereum News
  • Ripple News
  • Tezos News
  • CBDC
  • NFTs
Featured Companies
  • Binance
  • Tech Mahindra
  • Huobi
  • Efforce
  • Future FinTech Group
  • SuburbanColors
  • Launchpool Labs
  • Lucky Crab Club
  • SIMBA Chain
  • Bulldog Law
Stay Updated
  • Events
  • Newsletters
  • Follow
  • Follow on Google News
  • Blockchain Directory
Get In Touch
  • Crypto PR
  • Advertise
  • Partner
  • About
  • Masthead
  • Careers
  • Write for Us
  • Submit Press Release
  • Submit Guest Post
  • Contact US
Copyright © 2025. AlexaBlockchain
  • About
  • Advertise
  • Crypto PR
  • Submit Press Release
  • Write for Us
  • Careers
  • Privacy Policy
  • Affiliate Disclosure
  • Disclaimer
  • Contact

Type above and press Enter to search. Press Esc to cancel.