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Grayscale Adds Cardano to Its Digital Large Cap Fund
The digital-asset manager sold some existing constituents of the fund and used the proceeds to purchase ADA.
Grayscale Investments added ADA, the native token of the Cardano blockchain, to its Digital Large Cap Fund.
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- The digital-asset manager has sold some existing constituents of the fund and used the proceeds to purchase ADA, an announcement Friday said.
- The addition comes as part of Grayscale's quarterly rebalancing of the fund. In April, Grayscale added Chainlink's LINK token.
- Cardano is a proof-of-stake blockchain that aims to surpass the scalability and efficiency of Ethereum.
- ADA has risen more than 600% year to date, and is sitting at $1.36, up 1.81% in the last 24 hours at press time.
- Grayscale is owned by Digital Currency Group, the parent company of CoinDesk.
Read more: Swiss Asset Manager Valour Launches Cardano and Polkadot ETPs
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
