- Cardano (ADA) rejoins Grayscale’s GDLC fund, holding a 1.44% portfolio share.
- ADA surged 300% in late 2024, climbing from $0.3263 to $1.3264 in three months.
- Analysts predict ADA could reach $7.80 in this bull cycle, mirroring past performance.
Cardano (ADA) is once again part of the Grayscale Digital Large Cap Fund (GDLC), marking a noteworthy moment for the blockchain community. After months of surging growth and partnerships, including significant advances in blockchain development, ADA has quietly returned to its position in Grayscale’s flagship multi-asset fund.
The news comes nearly nine months after Grayscale removed ADA from the GDLC in April 2024. At that time, the removal was attributed to a rebalancing in the CoinDesk Large Cap Select Index (DLCS), which monitors the market cap-weighted performance of the top five non-stablecoin crypto assets. The decision led to frustration within the ADA community. However, the latest update shows the tides have turned.
Grayscale’s website confirmed ADA’s return to the GDLC on January 6, 2025. Though the exact timing of the addition is unclear, it likely occurred in late 2024, coinciding with ADA’s explosive rally. Between October and December, the asset climbed over 300%, skyrocketing from $0.3263 to $1.3264.
Cardano Gains Spotlight in Grayscale’s Portfolio
Cardano’s comeback replaces Avalanche (AVAX) in the fund. The GDLC now holds Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and ADA, representing a collective fund worth $811.5 million. ADA alone makes up 1.44% of the portfolio, amounting to over $11 million.
The return also signals increased institutional interest in ADA. If Grayscale receives regulatory approval to convert the GDLC into an exchange-traded fund (ETF), ADA could see even greater exposure. Grayscale filed for this ETF conversion in October 2024, and industry watchers are keeping a close eye on developments.
Chris O, a prominent Cardano supporter, celebrated the milestone in a recent post, writing, “Cardano fam, we are back in the GDLC (we are already in their SC fund). What is significant is that this Grayscale Fund is getting converted to an ETF! Thus $ADA will have US Wall St, and institutional exposure.”
Bull Run Predictions Ignite Optimism
Amid the renewed excitement, ADA is up 5.19% today, trading at $1.13 and achieving a weekly gain of 31.80%. Analysts suggest the momentum could carry forward into 2025, hinting at a significant price increase.
During its 2020/2021 bull run, ADA reached the 2.618 Fibonacci extension beyond its previous record highs. If it replicates this performance during this Bull cycle, the price could soar to approximately $7.80.
The future seems bright for Cardano as its inclusion in Grayscale’s fund reinforces confidence among investors. With its impressive growth and increasing institutional adoption, ADA is once again proving its resilience in the crypto market.
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