I just saw that Grayscale is again adjusting its smart contract fund allocation, raising Cardano’s weight to 20.2%, a trend that has been steadily increasing over the past few months. From 18.55% at the start of the year, it has climbed continuously—rising by 1.65 percentage points in just a few months—which suggests that institutions’ confidence in ADA as a smart contract platform is indeed growing.

At present, ADA ranks third in Grayscale’s smart contract fund, surpassed only by Solana and Ethereum, which account for 28.53% and 28.39%, respectively. Other allocations such as Hedera, Avalanche, and Sui are all lower than ADA. The fund’s current assets under management total $1.8 million, with a net asset value of $5.81 per share.

Interestingly, Cardano only added smart contract functionality in 2021, and has continued to be optimized through upgrades such as Vasil. Although Grayscale recently removed it from the CoinDesk Crypto 5 ETF, it is simultaneously pushing forward its standalone spot ETF, awaiting regulatory approval. This round of adjustments by institutional investors, to some extent, reflects their view of the network’s long-term potential.