I see Grayscale making interesting moves behind their smart contract fund. Cardano has risen again in allocation, now at 20.2%, and has been growing since the beginning of the year when it was at 18.55%. It’s the third largest holding in the fund, behind only Solana and Ethereum.

What catches the eye is this consistency in the increase. It’s not a one-time adjustment, but a series of small upward movements over weeks. February saw three consecutive increases. This usually signals that institutional managers are gaining more confidence in the platform’s potential. Cardano is consolidating its position as a serious blockchain infrastructure, especially after smart contracts were activated in 2021.

The entire fund is well diversified among the main platforms, but ADA is gaining relevance. If more funds follow this path, it could be an interesting indicator to watch. The institutional market is re-evaluating these positions, and Cardano is on the list.