Grayscale’s Third-Largest Holding Is Cardano

The Grayscale fund announced that they Invested their money in ADA coins. Now Ada is the third largest holding of Grayscale’s portfolio.

The world’s leading digital asset management fund company revealed that they are now doing their Investment in Cardano ( ADA). In the present time the most significant Cryptocurrency that they think is better for the Investment is ADA.

Grayscale already announced their Investment in other Cryptocurrencies like Bitcoin and Ethereum. But now they are eager to go with ADA.

According to the analysis at ground level regarding ADA coins, they are very impressed with  Cardano’s project.

According to the announcement  by Grayscale they had just adjusted their portfolio with the existing fund. They sold their other funds assets and bought Cardano.

“Welcome aboard, #Cardano. We have adjusted the portfolio of Grayscale Digital Large Cap Fund to now include $ADA.”

According to this picture which is taken from the official account of Grayscale twitter handle, the amount of ADA coin that they have is around 4.26% of the whole portfolio money.

Since they have Investment in bitcoin cash, chain-link & Litecoin which are at number 4, 5 and 6.

Edward McGee who is Vice President of Grayscale fund manager company stated his views on the matter.

We are excited to welcome Cardano to our Digital Large Cap Fund’s portfolio as we work to ensure that our diversified Fund can safely hold assets that collectively comprise 70% of the entire digital asset market. 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.”

Here it should be noticed that this is not only Grayscale which is going with Cardano. There are many companies which are getting into ADA coin Investment. See report here.

Read also: Coinbase Exchange Trying To Add New Assets Quickly