Cardano, Solana and Other Non-ETH Tokens the Focus of New Grayscale Smart Contract Fund

Grayscale Investments unveiled its “Smart Contract Platform ex Ethereum Fund” on Tuesday, aiming to offer exposure to smart contract technology outside of the Ethereum blockchain.

• The fund, referred to as “GSCPxE,” will track the CoinDesk Smart Contract Platform Select Ex ETH Index, according to a statement.
• Current holdings are Cardano’s ADA with a 24.6% weighting, Solana’s SOL at 24.3%, Avalanche’s AVAX at 17%, Polkadot’s DOT at 16.2%, Polygon’s MATIC at 9.7%, Algorand’s ALGO at 4.3% and Stellar’s XLM at 4.1%.
• “Investor demand for diversified exposure has grown in parallel to the ongoing evolution of the crypto ecosystem,” said Grayscale CEO Michael Sonnenshein.
• Grayscale parent company Digital Currency Group is also the owner of CoinDesk, which is run as an independent subsidiary.
• The fund is currently only offered in a private placement to accredited investors, but as Grayscale has done for nine of its other investment products, the firm will seek to obtain a public quotation on the secondary markets, according to the statement.

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