Grayscale sold ADA and ATOM tokens from its funds as part of a quarterly rebalancing

The funds received from token sales were used to buy assets preserved in fund baskets

05.04.2024 - 12:53

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Last updated on Aug 5, 2024

What’s new? Investment firm Grayscale has sold native tokens of the Cardano (ADA) and Cosmos (ATOM) blockchain from the Grayscale Digital Large Cap Fund (GDLC) and Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE) portfolios. The asset removals were part of a quarterly rebalancing, the firm said in an X-account.

Press release

What else is known? After the rebalancing, the assets in GDLC’s portfolio are distributed as follows: BTC (70,96%), ETH (21,84%), SOL (4,52%), XRP (1,73%), AVAX (0,95%). ADA coins were completely excluded from the portfolio.

In turn, the GSCPxE portfolio includes SOL (58,41%), ADA (14,56%), AVAX (12,25%), DOT (8,53%), and MATIC (6,25%). As a result of the rebalancing, ATOM was completely eliminated from the fund’s basket.

The funds received from the sale of ADA and ATOM were used to purchase assets included in the fund portfolios in proportion to their weight.

At the same time the DeFi Fund portfolio has not undergone any changes, it includes UNI (48,74%), MKR (20,41%), LDO (13,17%), AAVE (9,99%), and SNX (7,69%).

Earlier, Grayscale announced the launch of a staking-focused cryptocurrency exchange-traded fund. Grayscale Dynamic Income Fund (GDIF) will allow investors to participate in staking multiple assets simultaneously and earn quarterly rewards.

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