Grayscale Maintains Cardano ($ADA) and Solana ($SOL) as Top Holdings in Smart Contract Fund


Cryptocurrency asset manager Grayscale Investments has maintained both Cardano ($ADA) and Solana ($SOL) as the top holdings in its fund offering investors exposure to smart contract blockchain networks while excluding Ethereum ($ETH).

According to data from the Grayscale Smart Contract Platform ex Ethereum Fund (GSCPxE), its Cardano allocation is now 30.7%, meaning each share of the fund has 4.4 ADA on it, while its Solana allocation is 26.01%, representing 0.044 SOL per share.

The fund’s other holdings include Polkadot ($DOT), Avalanche ($AVAX), Polygon ($MATIC), Cosmos ($ATOM), and Algorand ($ALGO). As a result of its rebalancing, the GSCPxE fund dropped Stellar ($XLM) from it.

Source: Grayscale

As CryptoGlobe reported, the fund increased its Cardano allocation last month to 32.33% ADA per share, which at the time meant 4.34 ADA were in each share. Since then the fund’s allocation to Solana, Polygon, Cosmos, and Algorand rose slightly.

Since the fund was launched it has seen its value drop by over 55%, having endured a 16.7% loss over the last 30 days. The fund has $1.82 million in assets under management, and has a minimum investment requirement of $50,000. It is only available for accredited investors.




The fund’s holdings are weighted by market capitalization. Last year, Grayscale rebalanced its  Digital Large Cap Fund (GDLC) to add a new ADA component to it, allowing investors to get exposure to the cryptocurrency after it moved up over 1,000% in 12 months.

As CryptoGlobe reported, an artificial intelligence-based price prediction model is suggesting that the price of Cardano’s native token ADA is going to surge to trade at $2.9 by September of this year, representing a 530% increase from the cryptocurrency’s current price.

In contrast, the cryptocurrency community has, through CoinMarketCap, predicted that ADA will trade at $0.78 by the end of August, and at $0.457 at the end of the year. The community’s near-term bullishness is likely related to the network’s upcoming Vasil hard fork.

The hard fork is expected to deliver a “massive performance improvement” to the cryptocurrency’s network.

Development activity on the Cardano network, which tracks “the number of GitHub events that the project organization generated”, has surpassed that of other major cryptocurrencies, including Ethereum ($ETH) and Solana ($SOL) ahead of the hard fork.

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Featured image via Unsplash



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