Grayscale Investments announced additions to its Smart Contract Fund, and guess what? Cardano (ADA) is now on the roster. It is stepping up alongside Ethereum, Solana, Avalanche, Sui, Near and Polkadot, finding its place in the latest fund rebalancing.
Let’s talk numbers. SOL takes the top spot with 31.3%, just edging out Ethereum at 31.22%. Cardano? It is coming in strong at 18.23%, securing a firm third place. Avalanche is next at 7.26%, while Sui, Near and Polkadot make up the remaining slices, with 6.50%, 2.95% and 2.54%, respectively.
The fund sticks to a market cap-weighted approach, but no single asset gets to dominate – there is a 30% cap, keeping things balanced when quarterly rebalancing rolls around.
Grayscale Smart Contract Fund now includes Ethereum, Solana, Cardano, Avalanche, Sui, Near, and Polkadot. The Fund, which rebalances quarterly, is market cap-weighted and subject to a 30% cap upon each rebalance. #ethereum $SOL $ADA $AVAX $SUI $NEAR $DOT
Available to eligible… pic.twitter.com/NLpANn0cjZ
— Grayscale (@Grayscale) February 28, 2025
Grayscale’s Smart Contract Platform Fund is about offering investors exposure to blockchain ecosystems without the hassle of directly owning, storing or securing digital assets. Instead, they hold shares reflecting the fund’s assets. Of course, Grayscale reserves the right to leave out certain assets when needed.
Where do things stand right now? The NAV per share sits at $10.44, with a modest 0.19% daily uptick. Total assets under management are at $3,230,325.87. Shares outstanding stand at 309,400.
Cardano’s presence here is more than just a random addition. Institutional investors are taking note of ADA’s progress in the smart contract field. Cardano is well known for its focus on scalability and security, and with the ADA ETF on the horizon, this move only strengthens its position in a sector that has long been dominated by Ethereum.
