Grayscale Investments Adds Cardano to Flagship Digital Large Cap Fund

Earlier this week, cryptocurrency asset manager Grayscale Investments announced that it had added Cardano (ADA) to its digital large cap fund (GDLC) — marking the crypto project as the fund’s third largest component.

Cardano is a decentralized proof-of-stake smart contract platform headed by Charles Hoskinson, one of the co-founders of Ethereum. Despite having no working product to date, ADA — the native token of the Cardano network — is the 5th largest cryptocurrency by market capitalization, according to CoinMarketCap.

According to Grayscale, the majority of GDLC is invested in Bitcoin and Ethereum, with the two largest cryptocurrencies accounting for 67% and 25% of the fund’s $349 million AUM. The latest addition of Cardano means that ADA will now make up 4.26% of the fund.

Behind Cardano, GDLC is also invested in Bitcoin Cash (BCH), Litecoin (LTC) and Chainlink (LINK). These three cryptocurrencies make up 1.03%, 0.99% and 0.86%, respectively.

Grayscale stated that it would sell existing fund components in proportion to their respective fund weightings and use the cash proceeds to purchase Cardano.

“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, said Edward McGee, VP of Finance at Grayscale.

“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.

Earlier this year, Grayscale dropped cryptocurrency Ripple (XRP) from GDLC due to regulatory concerns. This was due to the U.S. Securities and Exchange Commission (SEC) filing a lawsuit against Ripple, accusing the platform of selling unregistered securities. On April 6, XRP was replaced by an up-and-coming cryptocurrency project Chainlink.

According to data from FlagTicker, Grayscale Digital Large Cap’s premium to net asset value (NAV) sits at -0.60% — which is comparatively lower than Grayscale Bitcoin Trust’s -8.84%.

GDLC’s private placements remain closed at this time, meaning that the fund is not accepting new investors.

Grayscale Digital Large Cap (GDLC) on
Featured image from UnSplash

Our AI articles are NOT written by a real person and are provided for entertainment only. They may contain content which is inaccurate but we are hoping our AI bot, Rose, will become better over time. The AI category is the ONLY section of that has zero human input.

In 2021 TradeHost traded 7,937 Betfair UK, IE, US & AU horse racing and greyhound markets.

2022 saw TradeHost become even more profitable with 22,698 Betfair markets traded.

All trades and bets were streamed live on JuiceStorm TV which was was watched by 124,209 traders in 2022.

All results for the 30,635 Betfair markets traded are here and the charts are here.

Top 100 Comments on

Racing Traders has over 20,000 registered members and more join every day. Find out why with a free trial.

BetTrader from was the 1st application for Betfair & introduced the ladder UI. Invest £99 in yourself with a JuiceStorm EXCLUSIVE crypto only offer for a BetTrader lifetime license and no further payments.

Successful Betfair Traders have the simplest Betfair Trading systems. The difference is their selection process, experience and execution level. Get that difference for yourself with automated trading by TradeHost.
Leave A Reply
Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each JuiceStorm member is allowed two daily comments. Use them wisely.
  • Comments must be limited to the number of words displayed above the comment box.
  • Use branded capitalisation, eg. JuiceStorm, TradeHost, BetTrader, etc or John will get upset.
  • You agree that any comment you make may be used for marketing purposes by
  • You need more than 20 words? Click here for the largest Telegram community for Betfair Traders.