2021-07-05 17:36:26
Cardano Becomes Third-Largest Asset Held on Grayscale
Grayscale Investments, the world’s biggest cryptocurrency investment company, recently announced the addition of Cardano (ADA) to its Digital Large Cap Fund (OTCQX: GDLC). The investment behemoth noted that this fund is “a passive, rules-based strategy that seeks to provide exposure to 70% of the digital asset market.”
The positive announcement came after a “quarterly review and rebalancing” of the fund. Grayscale explained that:
“[Per] the fund’s construction criteria, Grayscale has adjusted the fund’s portfolio by selling certain amounts of the existing fund components in proportion to their respective weightings and using the cash proceeds to purchase Cardano (ADA).”
At the end of the day of the announcement, July 1, the…
For the remainder of this analysis and the signal to place this trade, please join our VIP group here: https://cryptosignals.org/
1.2K views14:36