2024-04-08
Charles Hoskinson, the founder of Cardano, recently shared his thoughts on Grayscale Investments' decision to remove Cardano (ADA) from its Digital Large Cap Fund (GDLC).
In response, he stated, "Wall Street gives and takes," shedding light on the unpredictable nature of investment strategies and the volatility within the cryptocurrency market.
Charles Hoskinson Tweet on Twitter (X)
This comment emphasizes how Wall Street sometimes controls the cryptocurrency and digital asset environment.
Effective April 3, 2024, the revised portfolio composition of GDLC includes Bitcoin (BTC) at 70.96%, Ethereum (ETH) at 21.84%, Solana (SOL) at 4.52%, XRP at 1.73%, and Avalanche (AVAX) at 0.95%.
Grayscale has made these adjustments to maintain diversified portfolios and optimize fund performance based on market trends.
In addition to GDLC, Grayscale has also readjusted its other funds, such as the Grayscale DeFi Fund (DEFG) and the Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE), in accordance with their respective index methodologies.
However, Grayscale has faced criticism from the media for not providing updates on its Bitcoin holdings. This issue has been highlighted by Lookonchain, an on-chain analytics firm, in their latest update on April 1.
