“Welcome aboard, #Cardano. We have adjusted the portfolio of Grayscale Digital Large Cap Fund to now include $ADA,” Grayscale, a Trust Firm that owns Bitcoin and ETH, tweeted on Saturday.
Based on its post, Grayscale is now adding Cardano to its portfolio. According to the firm, it adjusted its portfolio by selling some of its existing Fund components so it could buy ADA.
Grayscale’s Vice President McGee said, “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.”
He also added, “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.”
Grayscale is a trust and funds firm with over $40 billion assets under its management. Two of its famous investments are GBTC and ETHE. Both GBTC and ETHE are straightforward investments. GBTC focuses on Bitcoin investments while ETHE is for Ether only. Crypto trusts have gained popularity now that more investors want to get exposed to the crypto market but don’t want to risk their money fully. Like ETFs, crypto trusts expose investors to lower risks. Although price volatility is inevitable, crypto trusts are a good option for investors who don’t want to enter the market completely.