Charles Hoskinson Reacts to Grayscale Removing ADA from GDLC

Charles Hoskinson, the founder of Cardano, recently weighed in on Grayscale Investments’ decision to remove Cardano (ADA) from its Digital Large Cap Fund (GDLC). Hoskinson took to Twitter, stating, “Wall Street give; Wall Street take,” in response to the news. His comment reflects the unpredictable nature of investment strategies and the volatility of the cryptocurrency market. It also highlights how Wall Street can influence the cryptocurrency and digital asset environment. Grayscale conducted a review according to the CoinDesk Large Cap Select Index methodology, resulting in the rebalancing of GDLC. The revised portfolio composition now includes Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Avalanche (AVAX). Grayscale made these adjustments to maintain diversified portfolios and optimize fund performance based on market trends. However, the company has faced criticism for a lack of updates on its Bitcoin holdings. It’s important to note that the information provided in this article is for informational purposes only and does not constitute financial advice or endorsements.