Grayscale Raises Cardano Allocation Above 20% in Smart Contract Fund

Grayscale Investments has increased Cardano’s ADA weighting in its Smart Contract Fund to 20.12%, up from 19.50%, marking another consecutive allocation boost.

The latest holdings update shows ADA now represents more than one-fifth of the fund’s portfolio, reinforcing its position as one of the fund’s core assets.

Portfolio Breakdown

As of February 17, 2026, the Smart Contract Fund allocations are structured as follows:

• Solana (SOL): 28.61%
• Ethereum (ETH): 28.21%
• Cardano (ADA): 20.12%
• Hedera (HBAR): 8.41%
• Avalanche (AVAX): 7.64%
• Sui (SUI): 7.01%

With ADA now firmly above the 20% threshold, Cardano remains the third-largest position in the fund, trailing only Solana and Ethereum.

What the Increase Signals

The consecutive rise in ADA’s weighting suggests strengthening institutional conviction in Cardano’s long-term positioning within the smart contract ecosystem.

Grayscale’s Smart Contract Fund provides regulated exposure to major layer-1 networks beyond Bitcoin, and allocation adjustments often reflect internal assessment of market structure, liquidity, and relative ecosystem development.

RWA Issuers Focus on Fundraising Over Secondary Market Liquidity

Crossing the 20% mark is notable because it signals that ADA remains a strategic allocation rather than a secondary diversification component.

While Ethereum and Solana continue to dominate the fund’s composition, Cardano’s growing share indicates sustained relevance among institutional portfolio constructors focused on programmable blockchain platforms.

The adjustment underscores how asset managers are actively rebalancing exposure across leading smart contract networks as the competitive landscape evolves.

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