Crypto News
| Published On Mar 25, 2022 7:50 am CET | By Peter Siu

Grayscale Launches 18th Investment Fund That Tracks Cardano, Solana and 5 Other Assets

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Digital asset manager Grayscale announced the launch of its Smart Contract Platform Ex-Ethereum Fund (GSCPxE).

The new investment product tracks the CoinDesk Smart Contract Platform Select Ex ETH Index, which weighs the market capitalization-weighted performance of all leading smart contract coins with the exception of Ethereum (ETH).

The fund ‘s holdings currently are: Cardano (ADA), with 24.63%, Solana (SOL) with 24.27%, Avalanche (AVAX) with 16.96%, Polkadot (DOT) with 16.16%, Polygon (MATIC) with 9.65%, Algorand (ALGO) with 4.27% and Stellar (XLM) with 4.06%.

GSCPxE is Grayscale’s 18th investment product and the third diversified fund.

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According to Grayscale, the fund launched amid rising demand for decentralized finance (DeFi) and non-fungible tokens (NFTs).

Michael Sonnenshein, Grayscale Chief Executive Officer, said:

“Smart contract technology is critical to the growth of the digital economy, but it’s still too early to know which platform will win – from attracting and retaining the most vibrant developer communities to ensuring the platform is high-speed, flexible, and scalable. The beauty of GSCPxE is that investors do not have to choose one winner, and instead can access the development of the smart contract platform ecosystem through a singular investment vehicle.”

Peter Siu

Peter is a former poker-pro, turned crypto enthusiast with 8+ years’ experience in operational roles dealing with all online gaming verticals within large iGaming companies, including Flutter and Entain. Now an expert in the field of Sports Betting, Casino, iGaming, and Poker, he is our team leader and editor. When not working, Peter can be found in the gym or playing sports like football, tennis and more recently padel.