Grayscale funds ADA and ATOM will drop after the quarterly rebalancing
Grayscale has delisted the Cardanone (ADA) token from the Grayscale Digital Large Cap Fund (GDLC) and the Cosmos (ATOM) token from the Grayscale Smart Contract Platform, formerly the Ethereum Fund (GSCPxE).
The removal of the tokens was part of Greyscale's quarterly fund rebalancing, the world's largest crypto-focused asset manager announced in an April 4 X post. The proceeds from selling the tokens were used to buy existing currency units.
Following the removal of the ADA token, Grayscale's large-cap fund now consists of 70.96% Bitcoin (BTC), 21.84% Ether (ETH), 4.52% Solana (SOL), 1.73% XRP (XRP) and 0.95% Avalanche (AVAX). .
As for the Grayscale Smart Contract Platform Fund, after removing ATOM from the fund, it now contains 58.41% Solana, 14.56% Cardano, 12.25% Avalanche, 8.53% Polkadot (DOT) and 6.25% Polygon (MATIC) tokens.
No new assets have been added or removed from Greyscale's DeFi fund, which currently holds 48.74% Uniswap (UNI), 20.41% Maker (MKR), 13.17% Lido (LDO), 9.99% Aave (AAVE) and 7.69% Synthetix (SNX). Symbols.
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Grayscale is the world's largest crypto-focused asset manager. At the end of March, the crypto investment fund announced a priority fund with record rewards.
The new Greyscale Dynamic Income fund is only available to clients with assets under management of more than $1.1 million or a net worth of more than $2.2 million.
ADA and ATOM provide negative responses year after year
Cardano's ADA token is down 8.1% year-to-date (YTD) and ATOM is down more than 3.3%, significantly underperforming both Bitcoin – the world's first cryptocurrency – and Ether.
By comparison, Bitcoin is up 59% since the start of the year, while Ether has rallied more than 40%, TradingView data shows.
ADA is down more than 10% on the weekly chart after falling below the $0.6 psychological mark on April 2, and is currently 81% away from its September 2021 all-time high of $3.10.
Trading at $10.8, ATOM is down more than 10% in the past week, 75% off its record high of $44.7 reached in September 2021.
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