Grayscale Adds Cardano to Portfolio, Now Manages $29.8B Crypto

Grayscale Adds Cardano
  • Grayscale has added Cardano (ADA) to its Digital Large Cap Fund, which is now worth $348.9 million.
  • The firm’s total assets under management are now worth $29.8 billion.
  • ADA price is $1.42, according to CoinGecko.

Crypto investment firm Grayscale has recently added Cardano (ADA) to its portfolio. According to a press release, Grayscale sold a portion of its fund’s components to buy ADA.

Grayscale VP of Finance Edward McGee said the move was to ensure their diversified fund can hold crypto that “collectively comprise 70%” of the total crypto market.

McGee added,

“Digital currencies represent a unique opportunity for investors to diversify their portfolios, and at Grayscale, we are proud to provide our investors with access to leading digital currencies through regulated, familiar product offerings.”

ADA will be under the Grayscale Digital Large Cap Fund, which is worth $348.9 million, according to a recent update by Grayscale. Also, the investment firm’s total assets under management now amount to $29.8 billion.

As seen above, Bitcoin still holds the majority of the assets under Grayscale’s portfolio.

At the time of writing, Bitcoin price is at $33,776.36. Meanwhile, ADA price is $1.42, according to CoinGecko.

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