- Solana (SOL) emerges as the top holding in Grayscale’s Smart Contract Platform Ex-Ethereum Fund, overtaking Cardano (ADA).
- No new tokens added or removed; existing assets’ weightings, including Polygon, Polkadot, and Avalanche, remain significant.
Solana’s Stellar Rise to the Top
In the evolving world of blockchain, Grayscale‘s recent Q3 portfolio reveals a dynamic shift. Solana (SOL) has emerged as the front-runner in the Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPXE), superseding the historically dominant Cardano (ADA).
A Closer Look at the Numbers
During the close of Q2 2023, Cardano confidently held its position in the GSCPxE Fund, boasting a weighting of 25.89%. But as the third quarter reached its end, Solana made an impressive stride, registering a 27.28% weighting, slightly edging out Cardano’s unaltered 25.89%. This development signifies Solana’s growing prominence and investor interest in the blockchain sphere.
It’s important to note that the fund’s composition remained consistent; no new tokens were introduced or discarded. While Solana and Cardano captured the spotlight, other assets sustained their significance in the fund. Polygon (MATIC) was recorded at 15.01%, Polkadot (DOT) at 14.25%, Avalanche (AVAX) at 10.24%, and Cosmos (ATOM) at 7.33%.
Diving Deeper: Grayscale’s Other Allocations
Beyond the GSCPxE Fund, Grayscale’s diverse portfolio continues to exhibit intriguing allocations. Their DeFi Fund for Q3 2023 was dominated by Uniswap (UNI), which carried a substantial 45.46% weighting. Subsequent allocations included Lido (LDO) with 19.04%, Aave (AAVE) at 11.53%, MakerDAO (MKR) at 10.82%, Curve DAO Token (CRV) at 7.03%, and Synthetix (SNX) completing the list at 6.12%.
In another significant fund, the Grayscale Digital Large Cap Fund, Bitcoin (BTC) remains the undisputed leader, holding a vast 70.05% share. It is closely followed by Ethereum (ETH) at 27.02%. The remaining assets were distributed among Cardano (ADA) at 1.19%, Solana (SOL) at 0.99%, and Polygon (MATIC) at 0.75%.
The Q3 portfolio update undoubtedly underscores the shifting preferences and trends in the blockchain and cryptocurrency sector. As these trends evolve, industry stakeholders and investors will keenly monitor future developments.