The world’s largest crypto asset management company, Grayscale, has announced its new altcoin project that it has added to its investment works cluster. The announcement of the company, which announced that it has included a new project in the altcoin basket it offers for individual and institutional investors, is of interest to crypto investors.
New altcoin will be the third largest fund from day one
The largest fund owned by the company is Bitcoin (BTC) with 67.47%. The second-ranked Ethereum (ETH) will hold 25.39% of the stake, while the new and third-name Cardano (ADA) will have 4.26% of the pie. The remaining shares are owned by Bitcoin Cash (BCH), Litecoin (LTC), and Chainlink (LINK) at around 1% or less.
While speaking of funds, it should be noted that Grayscale previously included XRP in its fund. But earlier this year, XRP lost its place in the company after the U.S. Securities and Exchange Commission accused Ripple of selling the crypto asset as an unregistered security. The company is currently valuing several altcoins, including Solana (SOL) and Polygon (MATIC), rather than the 7th largest cryptocurrency.
This attack will make Cardano and Ethereum a direct competitor
Finally, Cardano is a Blockchain network started by Charles Hoskinson, one of the co-founders of Ethereum. Cryptocoin. com, the platform is expected to offer smart contracts in August. For analysts, this attack will make Cardano and Ethereum a direct competitor.
Disclaimer: Cryptocoin. The articles and articles on com do not constitute investment advice. Cryptocoin. com does not recommend buying or selling any cryptocurrency or digital asset or Cryptocoin. com is not an investment advisor. Hence Cryptocoin. com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Notice: Cryptocoin. Citing the news content of com and quoting by giving a link Cryptokoin. com’s permission is normal. No content on the site can be copied, reproduced or published on any platform without permission. Cryptocoin. Legal action will be taken against those who use code, design, text, graphics and all other content of com in opposition to intellectual property law and relevant legislation. .