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.

AccessTimeIconJul 2, 2021 at 1:27 p.m. UTC
Updated Sep 14, 2021 at 1:20 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.
  • The addition comes as part of Grayscale's quarterly rebalancing of the fund. In April, Grayscale added Chainlink's LINK token.
  • 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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


Read more about