Grayscale has removed Cardano’s token from its Grayscale Digital Large Cap Fund (GDLC) and Cosmos’ token from its Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE).
The removal of the tokens was part of Grayscale’s quarterly fund rebalancing, the world’s largest crypto-focused asset manager announced in an April 4 X post. The proceeds generated from selling the tokens were used to buy existing fund components.
Following the removal of the ADA token, Grayscale’s large-cap fund now consists of 70.96% Bitcoin , 21.84% Ether , 4.52% Solana , 1.73% XRP and 0.95% Avalanche .
As for Grayscale’s smart contract platform fund, it now holds 58.41% Solana, 14.56% Cardano, 12.25% Avalanche, 8.53% Polkadot and 6.25% Polygon tokens, after removing ATOM from the fund.
No new assets have been added or removed from Grayscale’s DeFi Fund, which currently holds 48.74% Uniswap , 20.41% Maker , 13.17% Lido , 9.99% Aave and 7.69% Synthetix tokens.
Related: Google sues alleged China crypto app racketeers: Report
Grayscale is the world’s largest crypto-focused asset manager. At the end of March, it announced a crypto investment fund prioritizing cryptocurrencies with staking rewards.
The new Grayscale Dynamic Income Fund is only available to clients with more than $1.1 million assets under management or a net worth of more than $2.2 million.
ADA and ATOM deliver negative returns year-to-date
Cardano’s ADA token fell 8.1% year-to-date (YTD) while ATOM fell over 3.3%, significantly underperforming both Bitcoin — the world’s first cryptocurrency — and Ether.
In comparison, Bitcoin is up 59% since the beginning of the year, while Ether has rallied over 40%, TradingView data shows.
ADA is down over 10% on the weekly chart, after falling below the $0.6 psychological mark on April 2, and is currently 81% away from its previous all-time high of $3.10 reached in September 2021.
ATOM is also down over 10% during the past week, trading at the $10.8 mark, 75% away from its record $44.7 reached in September 2021.
Related: BTCFi innovation to match Ethereum DeFi in the future: MerlinSwap co-founder
About The Author
