👉👉👉 #cardano Founder Charles Hoskinson Questions $ADA 's Absence From #grayscale Staking Fund
Cardano founder Charles Hoskinson recently expressed his surprise and disappointment regarding Grayscale's Dynamic Income Fund (GDIF) and its exclusion of Cardano (ADA) from its initial selection of assets. Grayscale, renowned for its #BitcoinETF and crypto investment offerings, introduced GDIF as its first actively managed fund, aiming to capitalize on the growing trend of crypto staking.
GDIF was launched to hold assets from nine blockchains initially, including Aptos (APT), Celestia (TIA), Coinbase Staked Ethereum (CBETH), Cosmos (ATOM), Near (NEAR), Osmosis (OSMO), Polkadot (DOT), SEI Network (SEI), and Solana (SOL). The fund aims to distribute rewards in U.S. dollars quarterly, providing investors with exposure to multi-asset staking through a single investment vehicle.
However, Hoskinson's disappointment stemmed from the absence of ADA in GDIF's portfolio. His response to Grayscale's announcement on X was a simple "No ADA?" highlighting the importance of Cardano's staking mechanism in the blockchain ecosystem. Unlike Bitcoin's proof-of-work model, Cardano operates on a proof-of-stake consensus mechanism, where token holders can stake their assets to support network operations and validate transactions, earning rewards in return.
Despite Cardano's renowned staking option, Grayscale chose not to include ADA in their unique crypto fund, GDIF. However, it's worth noting that Grayscale has shown significant interest in ADA by considering it for two of its other funds.
For instance, Grayscale's GDLC fund includes a portion allocated to Cardano, alongside major cryptocurrencies like Bitcoin and Ethereum. Additionally, Grayscale's GSCPxE Fund holds a significant share in Cardano within its portfolio, alongside other prominent cryptocurrencies like Solana, Avalanche, Polkadot, Polygon, and Cosmos.
Source - coingape.com
