I just noticed that Grayscale is still moving tokens with Cardano. The asset manager has been steadily increasing the weight of ADA in its smart contract fund, and it has now reached 20.2%. That’s interesting because it shows that big players see something in the platform.

The curious thing is that this has been a gradual process. At the beginning of the year, they had ADA at 18.55%, then they adjusted it upward month by month. February was key with several rebalances. Apparently, Grayscale still trusts in the long-term potential of Cardano as a blockchain infrastructure, although the fund isn’t huge — around $1.8 million in assets under management.

Now ADA is the third-largest component of the fund, just below Solana at 28.53% and Ethereum at 28.39%. Quite respectable considering they also hold positions in Hedera, Avalanche, and Sui. Grayscale’s movement suggests that institutional investors are reevaluating their bets on smart contract platforms. Cardano is still in the game after all.