Cardano Poised To Explode As Grayscale Makes A Major Play Trending Crypto News

Cardano (ADA) price chart from (Grayscale)
Sharing is Caring

Cardano (ADA) has been slowly creeping into the mainstream and onto the radar of major players. This rising popularity of the cryptocurrency has led it to Grayscale, as the asset manager unveils a new way for institutional investors to gain exposure to Cardano.

Grayscale Announces Cardano Indices

On Tuesday, October 24, Grayscale Investments announced that it is bringing five new crypto indices to the crypto market. These five indices would allow institutional investors to gain some level of exposure to a number of assets in the industry without having to go through the hassle of actually buying the coins.

Of the five indices that were announced, Cardano made the cut as one of the smart contract platforms that were being explored. This adds to the existing exposure already available to institutional investors through Grayscale Investments by way of the ‘Grayscale Smart Contract Platform Ex-Ethereum Fund’. This fund already sees Cardano maintain a 24% dominance, something that may be replicated in the new indices.

Cardano community member Dan Gambardello took to his X (formerly Twitter) platform to share the news. Gambardello explained that this could be a major game-changer for the crypto especially with institutional investors being given a way to play. “We’re talking big money, big players, and big validation for ADA,” he said.

Also, as Gambardello points out, the introduction of five new indices could suggest rising interest from large investors in cryptocurrencies other than Bitcoin. Gaining exposure to assets with lower market caps than the leading cryptocurrency could mean even larger profits for these institutional players, and Cardano could provide them with that opportunity.

“It’s clear that the institutional wave is coming for more than just Bitcoin. Cardano as a blue chip crypto is poised to ride that wave!” Gambardello concluded.

What Happens With Institutional Adoption?

As already seen with Bitcoin, institutional investor adoption of a cryptocurrency can mean a massive rally for the asset. This is because the buying power of institutional investors is much higher than that of retail investors, and with trillions of dollars in the hands of institutions, even a small percentage of their investment portfolio going into an asset could cause it to explode.

The recent Bitcoin rally above $35,000 following enthusiasm that the BlackRock Spot Bitcoin ETF might be approved soon is a perfect example of this. Market experts have said they expect upwards of $100 billion to flow into BTC if a Spot Bitcoin ETF is approved.

This high-value injection could also be incredible for Cardano which is already being viewed as a serious investment by these large players. This can easily lead the ADA price back above $1 with the right set of circumstances.

ADA price rejected at $0.28 | Source: ADAUSD on

Featured image from Medium, chart from

#Cardano #Poised #Explode #Grayscale #Major #Play

Leave a Reply

Your email address will not be published. Required fields are marked *