A recent report reveals that Cardano still claims the highest market share in the Grayscale Smart Contract Ex-Ethereum Fund, among other Ethereum competitors.
Grayscale Investments has ventured into the crypto industry as its attempts to provide crypto exposures to clients become a reality. One of the funds Grayscale uses to provide this exposure is the Grayscale Smart Contract Platform Ex-Ethereum (GSCPxE) Fund. While the fund exposes several Ethereum competitors, Cardano has persistently retained the highest market share.
Each share of the GSCPxE Fund provides investors unequal exposure to seven smart contract assets. According to the screenshot, the fund contains 4.3 ADA, contributing 30.44% of the entire value of the fund. This ratio is the highest of any single asset.
Additionally, the fund contains approximately 0.044 SOL which contributes 21.54% of the fund’s value. Furthermore, there is 0.12 DOT in the fund, translating to a 13.75% contribution to its value. Other smart contract assets in the fund include Polygon (MATIC), Avalanche (AVAX), Cosmos (ATOM), and Algorand (ALGO).
The updated information on the official Grayscale website shows that the GSCPxE fund currently has a value of $6.84 per share. Each share contains 4.3 ADA (30.44%), 0.044 SOL (21.54%), 0.12 DOT (13.75%), 1.04 MATIC (12.79%), 0.036 AVAX (10.01%), 0.037 ATOM (7.49%), and 0.89 ALGO (3.98%).Â
Grayscale Investments launched the crypto fund in March as a means to give investors exposure to smart contract assets often considered Ethereum competitors. At launch, the fund contained 24.63% ADA and 24.27% SOL. Notwithstanding, ADA has grown to take a huge chunk of the market share, having 30.44% as of press time.
Cardano’s dominance highlights the platform’s patent hunger for growth. Despite its feats, the Cardano team is looking to upgrade the network further in the upcoming Vasil Hard Fork. The Vasil upgrade has been slated for September 22, a few days after the Ethereum Merge.
Due to recent market conditions, the fund is not performing quite well. It has seen a 16.48% decline in the past month. Additionally, its value has reduced by up to 54% since its inception.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
-Advertisement-
