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Grayscale has removed Cardano’s (<a href="https://cointelegraph.com/ada-price-index">ADA</a>) token from its Grayscale Digital Large Cap Fund (GDLC) and Cosmos’ (<a href="https://cointelegraph.com/cosmos-price-index">ATOM</a>) token from its Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE).
The removal of the tokens was part of Grayscale’s quarterly fund rebalancing, the world’s largest crypto-focused asset manager <a href="https://twitter.com/Grayscale/status/1775983039832904014" target="_blank" rel="noopener nofollow">announced</a> in an April 4 X post. The proceeds generated from selling the tokens were used to buy existing fund components.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-04/9719766d-9af9-43f7-adc2-47fe5279fa09.png" alt="" title="">
 <figcaption style="text-align: center;">
 Grayscale Digital Large Cap Fund. Source: <a href="https://twitter.com/Grayscale/status/1775983039832904014/photo/1" target="_blank" rel="noopener nofollow">Grayscale</a>
 </figcaption>
</figure>
Following the removal of the ADA token, Grayscale’s large-cap fund now consists of 70.96% Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>), 21.84% Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>), 4.52% Solana (<a href="https://cointelegraph.com/solana-price-index">SOL</a>), 1.73% XRP (<a href="https://cointelegraph.com/xrp-price-index">XRP</a>) and 0.95% Avalanche (<a href="https://cointelegraph.com/avalanche-price-index">AVAX</a>).
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-04/6964ebfa-46ba-4844-beb7-36c6c1c3d70f.png" alt="" title="">
 <figcaption style="text-align: center;">
 Grayscale Smart Contract Platform Ex-Ethereum Fund. Source: <a href="https://twitter.com/Grayscale/status/1775983039832904014/photo/1" target="_blank" rel="noopener nofollow">Grayscale</a>
 </figcaption>
</figure>
As for Grayscale’s smart contract platform fund, it now holds 58.41% Solana, 14.56% Cardano, 12.25% Avalanche, 8.53% Polkadot (<a href="https://cointelegraph.com/polkadot-price-index">DOT</a>) and 6.25% Polygon (<a href="https://cointelegraph.com/polygon-price-index">MATIC</a>) tokens, after removing ATOM from the fund.
No new assets have been added or removed from Grayscale’s DeFi Fund, which currently holds 48.74% Uniswap (<a href="https://cointelegraph.com/uniswap-price-index">UNI</a>), 20.41% Maker (<a href="https://cointelegraph.com/maker-price-index">MKR</a>), 13.17% Lido (<a href="https://cointelegraph.com/lido-dao-ldo-price-index">LDO</a>), 9.99% Aave (<a href="https://cointelegraph.com/aave-price-index">AAVE</a>) and 7.69% Synthetix (<a href="https://cointelegraph.com/synthetix-price-index">SNX</a>) tokens.
Related: <a href="https://cointelegraph.com/news/google-sues-china-crypto-app-racketeers-report">Google sues alleged China crypto app racketeers: Report</a>
Grayscale is the world’s largest crypto-focused asset manager. At the end of March, it announced a crypto investment fund prioritizing&nbsp;<a href="https://cointelegraph.com/news/grayscale-investments-dynamic-income-fund-gdic-crypto-solana-polkadot">cryptocurrencies with staking rewards</a>. 
The new Grayscale Dynamic Income Fund is only available to clients with more than $1.1 million assets under management or a net worth of more than $2.2 million.
<h2 data-ct-non-breakable="true" id="ada-and-atom-deliver-negative-returns-year-to-date">ADA and ATOM deliver negative returns year-to-date</h2>
Cardano’s ADA token fell 8.1% year-to-date (YTD) while ATOM fell over 3.3%, significantly underperforming both Bitcoin — the world’s first cryptocurrency — and Ether.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-04/305052cd-a3f6-472b-9b4c-fc86251a7d9c.png" alt="" title="">
 <figcaption style="text-align: center;">
 BTC, ADA, ATOM, YTD chart. Source: TradingView
 </figcaption>
</figure>
In comparison, Bitcoin is up 59% since the beginning of the year, while Ether has rallied over 40%, <a href="https://www.tradingview.com/chart/3Z94myyP/?symbol=BITSTAMP%3ABTCUSD" target="_blank" rel="noopener nofollow">TradingView</a> data shows.
ADA is down over 10% on the weekly chart, after falling below the $0.6 psychological mark on April 2, and is currently 81% away from its previous all-time high of $3.10 reached in September 2021.
ATOM is also down over 10% during the past week, trading at the $10.8 mark, 75% away from its record $44.7 reached in September 2021.
Related: <a href="https://cointelegraph.com/news/btcfi-innovation-match-ethereum-defi-future-merlinswap">BTCFi innovation to match Ethereum DeFi in the future: MerlinSwap co-founder</a>

Grayscale fund drops ADA and ATOM after quarterly rebalancing

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