Grayscale's Q3 portfolio update, Solana has surprisingly come out as a winner as it overtakes Cardano

Breaking: Solana Overtakes Cardano in Grayscale's Q3 Portfolio Update

By Coins Reporter | Coinsreporter | 6 Oct 2023

In Grayscale's Q3 portfolio update, Solana has surprisingly come out as a winner as it overtakes Cardano by a fair margin in Grayscale's Smart Contracts Fund, GSCPxE.

Recently Grayscale concluded its review for Q3 portfolio update and published the results on X alongwith their website blog. In the review for Q3, Grayscale informed the users about the allocation of its various assets fund wise. Interestingly, the GSCPxE has seen a rise for Solana while leaving behind Cardano.

Cardano has long been the table topper of Grayscale's GSCPxE and still boasts a little over of 25.89% in the fund. While Solana has inched past Cardano in GSCPxE, the gap is not that much as Solana constitutes 27.28% of the fund.

While Solana and Cardano forms almost half of the GSCPxE, there are no new entrants to the smart contracts funds. Other assets that include GSCPxE are Polygon (MATIC), Polkadot (DOT), Avalanche (AVAX) and Cosmos (ATOM).

The other two major indexes by Grayscale Investments have largely remained unchanged.

In the Grayscale's Digital Large Cap Fund (GDLC), Bitcoin tops the list with 70.05% and followed by Ethereum with 27.02%.

In the Grayscale DeFi Fund (DEFG), Uniswap has the lion's share with 45.46% and followed by Lido (LDO) with 19.04%.

Lesson for Small Investors:

With Solana overtaking Cardano in GSCPxE, there's a lesson for small investors like us. In the recent rally where Bitcoin shot upto $28k, Solana has outperformed most other coins in top 100. Was it Grayscale that was shifting their funds to Solana? Or it was a retailer's rally? I highly suspect it was the former with a conviction to the fact that Solana remains one of the fastest and feel awkwardly fresh unlike Cardano.

Additionally, if anyone wants to build a prolific portfolio, you can always follow Grayscale's Funds with the Cryptocurrencies of worth. And with a Bitcoin ETF is inching closer, we may well be getting closer towards the next bull run.

Images Source: @Grayscale X feed.

As Always Thanks For Reading.

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https://twitter.com/Grayscale/status/1710036787509579865

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