卡爾達諾（ADA）從灰階數位大盤基金退出，並發生重大轉變

主要加密資產管理公司 Grayscale 在季度審查期間將 Cardano (ADA) 從其數位大盤基金 (GDLC) 中刪除。該公司稱原因是資產再平衡，所得資金用於購買現有基金組成部分。這項決定標誌著灰階先前對 ADA 的看漲立場發生了轉變，ADA 於 2021 年被添加到 GDLC 中，成為第三大持倉。

Grayscale's Bold Move: Cardano (ADA) Dropped from Digital Large Cap Fund

灰階的大膽舉動：卡爾達諾（ADA）從數位大盤基金退出

In a pivotal shift within the cryptocurrency investment landscape, Grayscale, the world's largest crypto asset manager, has removed Cardano (ADA) from its prestigious Digital Large Cap Fund (GDLC). This strategic move, announced as part of the firm's first-quarter 2024 review, signals a reassessment of the fund's portfolio composition.

加密貨幣投資格局發生了重大轉變，全球最大的加密資產管理公司 Grayscale 已將 Cardano (ADA) 從其著名的數位大盤基金 (GDLC) 中剔除。這項策略性舉措是該公司 2024 年第一季審查的一部分，標誌著對該基金投資組合構成的重新評估。

Grayscale's decision to part ways with ADA stems from its quarterly rebalancing process. The firm liquidated its ADA holdings and reallocated the proceeds to existing fund components, adjusting their weightings accordingly. As a result, ADA has been effectively axed from the GDLC portfolio.

Grayscale 決定與 ADA 分道揚鑣，源自於其季度重新平衡流程。該公司清算了其 ADA 持股，並將收益重新分配給現有基金組成部分，並相應調整其權重。因此，ADA 實際上已從 GDLC 產品組合中刪除。

"Our quarterly reviews involve rebalancing and updating our multi-asset funds, including GDLC, the DeFi Fund, and the Smart Contract Platform Ex-Ethereum Fund," explained Grayscale. "In adherence to the CoinDesk Large Cap Select Index methodology, we've sold Cardano and utilized the proceeds to enhance our existing portfolio."

「我們的季度審查涉及重新平衡和更新我們的多元資產基金，包括 GDLC、DeFi 基金和智慧合約平台 Ex-Ethereum 基金，」Grayscale 解釋道。 “根據 CoinDesk 大盤股精選指數方法，我們出售了 Cardano 並利用所得收益來增強我們現有的投資組合。”

The GDLC Fund's updated composition now features Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Avalanche (AVAX). This move follows a similar adjustment in January, where Grayscale removed Polygon's MATIC and welcomed Avalanche and XRP into the fold.

GDLC 基金的更新組成現在包括比特幣 (BTC)、以太幣 (ETH)、Solana (SOL)、XRP 和 Avalanche (AVAX)。在此之前，一月也進行了類似的調整，當時 Grayscale 刪除了 Polygon 的 MATIC，並歡迎 Avalanche 和 XRP 加入。

Grayscale's Digital Large Cap Fund, a pioneering investment vehicle, exclusively invests in a basket of large-cap digital assets. It aims to mirror the value of these assets while mitigating the complexities of direct acquisition and storage.

Grayscale 的數位大盤基金是一種開創性的投資工具，專門投資於一籃子大盤數位資產。它的目的是反映這些資產的價值，同時減輕直接取得和儲存的複雜性。

The decision to drop ADA from GDLC marks a significant departure from Grayscale's previous stance. In 2021, the firm added ADA to its large-cap fund, positioning it as the third-largest holding.

將 ADA 從 GDLC 中刪除的決定標誌著與 Grayscale 先前立場的重大背離。 2021 年，該公司將 ADA 加入其大盤基金中，將其定位為第三大持股。

However, Grayscale's dominance in institutional crypto custody and investment has not shielded it from the evolving regulatory landscape. Industry players have begun diversifying their portfolios beyond Bitcoin and Ethereum to navigate these regulatory shifts.

然而，灰階在機構加密貨幣託管和投資方面的主導地位並沒有使其免受不斷變化的監管環境的影響。產業參與者已經開始將其投資組合多元化到比特幣和以太坊之外，以應對這些監管變化。

For instance, the Bitwise 10 Crypto Index Fund, which tracks the top 10 most valuable cryptocurrencies, now offers investors exposure to ADA, albeit with a modest 1.1% allocation. As regulations evolve and gain clarity, similar expansions into alternative digital assets by other funds, like VanEck, could emerge, providing investors with a more comprehensive range of opportunities.

例如，追蹤最有價值的 10 種加密貨幣的 Bitwise 10 加密貨幣指數基金現在為投資者提供 ADA 投資，儘管分配比例不大，為 1.1%。隨著法規的發展和明確，VanEck 等其他基金可能會出現類似的另類數位資產擴張，為投資者提供更全面的機會。

Grayscale's decision to remove ADA comes as the cryptocurrency has experienced relatively stable price action following a tumultuous week marked by an 11.66% decline, resulting in the loss of its market cap position to Dogecoin. At the time of writing, ADA trades at $0.58, indicating a 0.56% decrease over the past 24 hours.

Grayscale 決定刪除 ADA 之際，該加密貨幣在經歷了下跌 11.66% 的動盪一周後經歷了相對穩定的價格走勢，導致其市值地位輸給了狗狗幣。截至撰寫本文時，ADA 交易價格為 0.58 美元，表明過去 24 小時內下跌了 0.56%。

Analysts Weigh In

分析師介入

Industry experts have offered varying perspectives on Grayscale's move. Some believe it reflects a strategic shift towards assets with more robust fundamentals and clearer regulatory frameworks. Others caution against interpreting it as a bearish signal for ADA, emphasizing the fund's focus on large-cap assets and the cryptocurrency's potential for future growth.

行業專家對灰度的舉動提出了不同的看法。有些人認為，這反映了向具有更強勁基本面和更清晰監管框架的資產的策略轉變。其他人則警告不要將其解讀為 ADA 的看跌信號，強調該基金專注於大盤資產和加密貨幣的未來成長潛力。

"Grayscale's decision is likely driven by their perception of ADA's position in the market and its alignment with their fund's objectives," said analyst Javier Salinas. "It should not be seen as a reflection of ADA's long-term prospects."

分析師哈維爾·薩利納斯 (Javier Salinas) 表示：“Grayscale 的決定可能是由於他們對 ADA 在市場中的地位及其與其基金目標的一致性的看法。” “這不應被視為 ADA 長期前景的反映。”

Conclusion

結論

Grayscale's removal of ADA from its Digital Large Cap Fund sends a clear message that the crypto investment landscape is evolving. Institutional investors are increasingly seeking diversification and regulatory clarity, leading to a reassessment of portfolio allocations. While ADA's exclusion from GDLC may not signal a bearish outlook for the cryptocurrency, it highlights the importance of adapting to the changing regulatory environment and the growing emphasis on fundamental strength and regulatory compliance within the crypto industry.

Grayscale 將 ADA 從其數位大盤基金中移除，發出了一個明確的訊息：加密貨幣投資格局正在演變。機構投資者越來越多地尋求多元化和監管清晰度，從而導致對投資組合配置的重新評估。雖然 ADA 被排除在 GDLC 之外可能並不意味著加密貨幣前景悲觀，但它凸顯了適應不斷變化的監管環境的重要性以及加密行業內對基本實力和監管合規性的日益重視。