Grayscale Adds Cardano (ADA) To Its Digital Large Cap Fund

by in Cryptocurrency News

Grayscale adds cardano to Large Cap Fund

Leading digital currency asset manager Grayscale announced adding the native token of the Cardano blockchain ADA to its Digital Large Cap Fund (GDLC).

Related: Grayscale expands asset list for new products

The company revealed they sold some amounts of the existing Fund components to purchase ADA and adjust the portfolio. Grayscale adopted the strategy of rebalancing the fund quarterly..

In April, the company added Chainlink (LINK). The next quarterly review will take place at the end of September.

With the addition of ADA, the number of cryptocurrencies included in the fund reached 6. They are Bitcoin (BTC), Ethereum (Eth), Bitcoin Cash (BCH), Litecoin (LTC), Chainlink (LINK), and Cardano (ADA).

According to July 1 data, GrayScale's AUM (assets under management) is above $30.4 billion, $356.7 M of which, comes from the GDLC.

The asset manager also expands the cryptocurrency list for new products. Earlier this month, it added 13 more assets based on which it can offer new investment trusts in the future..