Cryptocurrency asset manager Grayscale Investments has rebalanced its Digital Large Cap Fund (GDLC) to add a new Cardano (ADA) component to the fund, allowing investors to also gain exposure to the cryptocurrency, which moved up over 1,000% in the last 12 months.
According to Grayscale, the fund’s portfolio sold “certain amounts of the existing Fund Components” in proportion to their respective weightings and used the cash proceeds to add Cardano’s ADA to the fund. The move comes after a similar one was made to add Chainlink (LINK) to the fund in April of this year.
Edward McGee, Vice President of Finance at Grayscale, was quoted saying:
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.