Grayscale has Finally Added Cardano (ADA) to the Digital Large Capital Fund

Cardano has been in the news due to the series of upgrades that are set to take place on the blockchain project for now. As a result, the third-generation cryptocurrency has managed to move up by 1000% within only 12 months. Grayscale is a cryptocurrency asset management corporation that allows traders to get exposure to digital assets without the need for directly holding them.

The Digital Large Cap Fund of Grayscale is one such investment vehicle. The fund aims to aid components from the large-cap digital assets to the GDLCF and present it to the investors as security. As announced by the Grayscale representatives, ADA has been added to the fund recently. The ADA was bought by liquidating a few other crypto assets and using the cash returns to invest into Cardano native token.

Edward McGee is the VP for financial affairs at Grayscale. He recently told media that Cardano added to accommodate the clients who want to gain exposure in the altcoin. He further added that the GDLCF aims to become highly diversified and transparent. According to McGee, at present, about 70% share of the entire crypto market is locked in the fund.

The fund has the largest share of value in Bitcoin, with 67.47%. Meanwhile, other altcoins such as ETH (25.39%), Cardano (4.26%), Litecoin (0.99%), BitcoinCash (1.03%), and Chainlink (0.86%) are added as well. It should be noted that the fund is regularly distributing some portion of the component basket. Each share slowly moves down in terms of its saturation for a particular fund component. For each GDLCF share, the holders will own 0.7106 ADA.

Grayscale is known for providing its clients with the best investment funds and trusts for cryptocurrencies. The digital asset management enterprise aims to ensure more diversification for risk mitigation and a higher chance of returns. At present, Grayscale Bitcoin Trust (GBTC) is the largest Bitcoin holdings in the world. However, the investment giant is looking into 13 new crypto variants to establish new trusts.

The most noteworthy altcoins that are on the list are Polygon and Solana native tokens. At press time, Grayscale holds more than $30 billion AUM in the form of altcoins. The last blockchain project staked into the GDLCF was Chainlink in April. The investors who want to invest their money into Cardano will be able to do so without having to deal with public and private keys.