Cardano (ADA) on Grayscale!

Killer Whale Crypto

Killer Whale Crypto

July 4, 2021, 5:12 AM UTC

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Grayscale Trust lists Cardano (ADA) as its third-largest digital asset holding

Since its inception, Grayscale Trust has become the world’s largest and most notable digital currency asset manager, with 46 billion dollars worth of assets under management. Grayscale first appeared on the NASDAQ in 2013, and quickly gained recognition as the first digital asset manager to offer stocks backed by Bitcoin on the traditional stock market. Since then, Grayscale has added multiple other large cap cryptos to its portfolio, as its customer basis continues to grow. As of Friday, July 1st 2021, Grayscale added Cardano (ADA) as its third largest holding, to its digital large cap fund.

Cardano (ADA) has made a name for itself within the crypto community, not only because of its lucrative price action, but for the powerful technology behind it. Cardano (ADA) is a verifiably secure and scalable, proof of stake blockchain platform. It is designed to support a wide array of dapp and smart contract building. Cardano (ADA) also boasts the most ecologically friendly blockchain technology within the world of crypto. Cardano being available to investors via Grayscale Trust is a testament to its superior performance since its initial release date in 2015.

Cardano joining Grayscale is monumental for the cryptocurrency as well as its holders and traders alike. Not to mention for those who are looking at expanding their stock portfolios and retirement funds by diversifying into the power of new digital asset options. Grayscale bridging the gap between stocks and digital assets is great for cryptocurrency as a whole, as it exposes the relatively new market to larger market capitalization, which it may never have seen otherwise.

Currently Grayscale Trusts largest holdings are diversified as follows:

  1. Bitcoin (BTC) – 67.47%
  2. Ethereum (ETH) – 25.39%
  3. Cardano (ADA) – 4.26%
  4. Bitcoin Cash (BTH) – 1.03%
  5. Litecoin (LTC) – 0.99%
  6. Chainlink (LINK) – 0.86%

Grayscale Trust is clearly bullish on Cardano (ADA) as it became Grayscale’s third-largest holding at the moment it was listed. This is a comparatively interesting move on Grayscale’s part, considering Chainlink (LINK) was the last digital asset adopted as a replacement for XRP, to fill the gap after its delisting. Greyscale Trust plans its investments carefully. Sometimes even years before purchase. With Cardano having its new Alanzo upgrade to add smart contract capability just around the corner we are excited to see what grayscale and Cardano (ADA) are going to achieve in the future!

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