Cardano, Solana and Other Non-ETH Tokens the Focus of New Grayscale Smart Contract Fund

It’s the fund manager’s 18th investment product and third diversified fund offering.

AccessTimeIconMar 22, 2022 at 12:15 p.m. UTC
Updated May 11, 2023 at 6:00 p.m. UTC
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Grayscale Investments unveiled its “Smart Contract Platform ex Ethereum Fund” on Tuesday, aiming to offer exposure to smart contract technology outside of the Ethereum blockchain.

  • The fund, referred to as “GSCPxE,” will track the CoinDesk Smart Contract Platform Select Ex ETH Index, according to a statement.
  • Current holdings are Cardano’s ADA with a 24.6% weighting, Solana’s SOL at 24.3%, Avalanche’s AVAX at 17%, Polkadot’s DOT at 16.2%, Polygon’s MATIC at 9.7%, Algorand’s ALGO at 4.3% and Stellar’s XLM at 4.1%.
  • “Investor demand for diversified exposure has grown in parallel to the ongoing evolution of the crypto ecosystem,” said Grayscale CEO Michael Sonnenshein.
  • Grayscale parent company Digital Currency Group is also the owner of CoinDesk, which is run as an independent subsidiary.
  • The fund is currently only offered in a private placement to accredited investors, but as Grayscale has done for nine of its other investment products, the firm will seek to obtain a public quotation on the secondary markets, according to the statement.


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Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

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