The crypto asset management giant has been actively accumulating some top altcoins for a while. As the latest update to their holdings, Cardano (ADA) stands on top of the smart contract platforms with a massive share. While the firm has been selling crypto assets at huge discounts, the latest update to the holdings can signal some changes in their long-term strategy.
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Cardano (ADA) for Smart Contracts Holdings
In a new report, Grayscale’s GSCPxE Fund has allocated funds towards multiple Ethereum competitors. Cardano (ADA), Solana (SOL) and Polkadot (DOT) stand on top of the list.
“At the end of the day on July 6th, 2022, the GSCPxE Fund’s fund components were a basket of the following assets and weightings:
Cardano (ADA), 31.69%
Solana (SOL), 25.43%
Polkadot (DOT), 13.90%
Avalanche (AVAX), 10.87%
Polygon (MATIC), 8.45%
Cosmos (ATOM), 5.29%
Algorand (ALGO), 4.37%.”
Interestingly, the payment focused altcoin Stellar (XLM) is now removed from the list. Grayscale states that this is due to a rebalancing of funds. XLM has had an underwhelming performance as of late.
DeFi and Digital Large Cap Funds
the latest rebalancing has also affected Grayscale’s DeFi holdings as well. The world’s largest BTC fund has also been making big changes in the DeFi sector. Currently, Grayscale’s biggest DeFi holding is Uniswap (UNI) which is a decentralized exchange based on Ethereum.
“At the end of the day on July 6, 2022, the DeFi Fund’s Fund Components were a basket of the following assets and weightings.
Uniswap (UNI), 56.35%
MakerDAO (MKR), 13.49%
Aave (AAVE), 12.44%
Curve DAO Token (CRV), 7.48%
Amp (AMP), 5.52%
Compound (COMP), 4.72%”
As for the big boys, Grayscale made some radical changes in the digital large cap funds by slashing five coins from the list.
“Grayscale has adjusted the Digital Large Cap Fund’s portfolio by selling certain amounts of the existing Fund Components in proportion to their respective weightings. As a result of the rebalancing, Bitcoin Cash, Chainlink, Litecoin, Polkadot and Uniswap have been removed from the Digital Large Cap Fund. No new tokens were added to the Digital Large Cap Fund.
At the end of the day on July 7th, 2022, the Digital Large Cap Fund’s fund components were a basket of the following assets and weightings:
Bitcoin (BTC), 68.88%
Ethereum (ETH), 25.22%
Cardano (ADA), 2.71%
Solana (SOL), 2.23%
Avalanche (AVAX), 0.96%”
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