Grayscale adds Cardano to Digital Large Cap Fund

The digital asset management company Grayscale Investments has included Cardano (ADA) as a component of the Digital Large Cap Fund.

Welcome aboard, #Cardano. We have adjusted the portfolio of Grayscale Digital Large Cap Fund to now include $ADA.

— Grayscale (@Grayscale) July 2, 2021

The company said that it sold some of the existing fund components and used the proceeds to purchase ADA. As of July 2, 2021, the asset’s share stood at 4.26%.

Bitcoin and Ethereum accounted for 67.47% and 25.39% of the fund’s assets, respectively. Bitcoin Cash, Litecoin and Chainlink now account for 1.03%, 0.99% and 0.86%, respectively. The latter was added by Grayscale Investments in April 2021.

We adjusted the portfolio of Grayscale Digital Large Cap Fund 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 table shows the Fund’s weightings as of July 2, 2021 pic.twitter.com/wMfJ9cprXU

— Grayscale (@Grayscale) July 2, 2021

As of writing, Cardano is priced at $1.35. The asset ranks fifth in cryptocurrency market cap, with a valuation of $43.5 billion, according to CoinGecko.

Launched in February 2018, the Digital Large Cap Fund makes passive investments in the most popular cryptocurrencies.

As of the latest data, investors have invested $356.7 million in it. The total assets under management across the company’s funds amount to $30.4 billion.

07/01/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.

Total AUM: $30.4 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $ZEC $BAT $LINK $MANA $FIL $LPT pic.twitter.com/ERtVlBP0pc

— Grayscale (@Grayscale) July 1, 2021

In January, Grayscale Investments filed applications to register six trusts based on Aave, Polkadot, Cosmos, Monero, EOS and Cardano.

In June, the company added 13 additional assets to the list on which it may in the future offer clients new investment funds.

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