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Grayscale Digital Large Cap Fund will buys more Cardano (ADA)

The world’s leading digital asset management fund Grayscale has just added ADA to Grayscale Digital Large Cap Fund. The top asset management company announced its quarterly rebalancing that brought up Cardano to be the third-largest holdings of the company.

“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″.

Source: Twitter

“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.” Edward McGee, Vice President of Finance at Grayscale explained.

Before buying ADA, Grayscale also made the same adjustment in April to buy LINK. Cardano is now the fund’s third-largest holding after BTC and ETH, and it accounts for 4.26% of the total portfolio.

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