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.
Updated Sep 14, 2021 at 1:20 p.m. UTC
Grayscale Investments added ADA, the native token of the Cardano blockchain, to its Digital Large Cap Fund.
- The digital-asset manager has sold some existing constituents of the fund and used the proceeds to purchase ADA, an announcement Friday said.
- 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.