• Cardano (ADA) has been added to Grayscale’s Digital Large Cap Fund

  • Cardano (ADA) was added to Grayscale Investments’ Digital Large Cap Fund Wednesday, making it the world’s largest crypto asset manager.

    “Welcome aboard, Cardano,” says the captain. Grayscale Digital Large Cap Fund’s portfolio has been updated to incorporate ADA,” the business tweeted.

    Grayscale has sold various “existing fund components”—other digital assets—in favor of ADA, according to the company’s most recent report. The business has cut Bitcoin’s (BTC) weighting in its Digital Large Cap Fund from 79.8% to 67.47 percent. At the same time, the fund’s holdings of Ethereum (ETH) have been increased from 17,5 percent to 25,39 percent.

    With the addition of Cardano, the fund’s crypto holdings have grown to 4.26 percent, making it the third-largest after Bitcoin and Ethereum. In early April, Grayscale announced the inclusion of Chainlink (LINK) to its Digital Large Cap Fund, as reported by CryptoSlate.

    According to a report issued by Grayscale on July 2, the corporation presently manages $29.8 billion in digital assets.

    With $21.7 billion in BTC, the company’s Bitcoin Trust accounts for the lion’s share of the total. The Ethereum Trust, which holds around $6.57 billion in ETH, comes in second. The Digital Large Cap Fund, on the other hand, now has around $349 million in various cryptocurrencies.

    Meanwhile, it appears that Grayscale’s statement had no significant impact on Cardano’s price. According to crypto analytics platform CoinGecko, ADA was selling at roughly $1.42 at press time, up 5.3 percent on the day.

    Notably, ADA is now competing with Binance Coin for the title of fourth largest cryptocurrency (BNB). Both assets have a similar market value ($45.69 billion BNB vs. $45.63 billion ADA) and alternate between 4th and 5th rank on a regular basis.

    BNB has surged ahead by a slight margin at press time, relegating ADA to fifth place.

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