Grayscale will sell other digital assets to buy more Cardano (ADA)

Grayscale announced that it has rebalanced its portfolio, with ADA becoming the company’s third largest portfolio.

According to an announcement on July 2nd, the world’s leading digital asset manager has adjusted its Grayscale Digital Large Cap Fund portfolio “by selling a certain number of existing fund components under their respective weightings and using the cash proceeds to buy ADA”.

We have adjusted the portfolio of the Grayscale Digital Large Cap Fund by selling certain amounts of the existing fund components in proportion to their weightings and using the cash proceeds to buy #Cardano ($ ADA). This table shows the fund’s weightings as of July 2, 2021 pic.twitter.com/wMfJ9cprXU

– grayscale (@grayscale) July 2, 2021

According to Grayscale, ADA is currently the third largest fund holding after Bitcoin and Ethereum and accounts for 4.26% of the total portfolio. Edward McGee, Vice President of Finance at Grayscale said:

“We are excited to welcome Cardano to the Digital Large Cap Fund portfolio as we work to ensure the fund can safely hold assets that make up 70% of the total asset market. Digital currencies represent a unique opportunity for investors to diversify their portfolios. At Grayscale, we pride ourselves on providing investors with access to leading digital currencies through regulated, familiar product offerings. “

For 2021, Grayscale has signed up for trusts for several cryptocurrencies, including Cardano, and it looks like they have finally put their trust in the blockchain led by Charles Hoskinson.

Thach Sanh

According to AZCoin News

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