Grayscale Rebalances ETF, Adding Binance Coin and Removing Cardano
- Grayscale Investments has replaced Cardano (ADA) with Binance Coin (BNB) in its Grayscale CoinDesk Crypto 5 ETF (GDLC).
- The updated portfolio now allocates Bitcoin at 74.21%, Ethereum at 13.34%, BNB at 4.97%, XRP at 4.68%, and Solana at 2.80%.
- This marks the first inclusion of BNB in the GDLC fund, which is designed for institutional investors.
- Grayscale has also filed an S-1 with the SEC for a spot BNB ETF, following VanEck’s application.
- Swedish asset manager Virtune AB announced plans to launch a physically supported BNB ETF on Nasdaq Stockholm.
The rebalance aligns with the CoinDesk Large Cap Select Index, reflecting market capitalization and liquidity standards, which may enhance BNB’s adoption among institutional investors.
Currently trading around $767, analysts suggest that BNB could reach $1000 based on positive technical indicators and market sentiment.(Source)
