Grayscale Removes Cardano and Cosmos from Funds
Grayscale, a leading crypto asset management firm, has made changes to its multi-asset funds by removing Cardano and Cosmos tokens as part of its quarterly rebalancing.
The decision to remove Cardano (ADA) from the Grayscale Digital Large Cap Fund (GDLC) and Cosmos’s ATOM token from the Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE) was influenced by CoinDesk’s recent adjustments to its industry sector indices. Grayscale explained that these changes are based on the methodology of each index and are subject to periodic updates.
As a result of this rebalancing, Cardano holdings in GDLC were liquidated, with the proceeds reinvested in other assets according to their weightings in the fund. Similarly, Cosmos was divested from GSCPxE, with the proceeds used to purchase other fund components in proportion to their weightings.
The current weightings in GDLC include over 70% Bitcoin, 21.84% Ethereum, 4.52% Solana, and less than 3% in XRP and Avalanche. In contrast, GSCPxE now consists of 58.4% Solana, 14.56% Cardano, 12.25% Avalanche, 8.53% Polkadot, and 6.25% Polygon.
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No new tokens were added or removed from the DeFi Fund, which comprises 48% Uniswap, 20.41% MakerDAO, 13.17% liquid staking protocol Lido, 9.99% Aave, and 7.69% Synthetix.
Following these adjustments, both Cardano’s ADA and Cosmos’s ATOM have experienced declines, mirroring the broader market downturn.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
