Grayscale has excluded Cardano's ADA token from its Grayscale Digital Large Cap Fund (GDLC) and Cosmos' ATOM token from its Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE) during its quarterly fund rebalancing, as announced on April 4. The proceeds from the token sales were reinvested into existing fund components.

As a result of the removals, Grayscale's large-cap fund now primarily comprises Bitcoin (BTC), Ether (ETH), Solana (SOL), XRP, and Avalanche (AVAX), while the smart contract platform fund holds Solana, Cardano, Avalanche, Polkadot, and Polygon tokens.

No changes have been made to Grayscale's DeFi Fund, which includes Uniswap, Maker, Lido, Aave, and Synthetix tokens.

Grayscale introduced a new fund, the Grayscale Dynamic Income Fund, reserved for clients with significant assets under management or high net worth, emphasizing cryptocurrencies with staking rewards.

Both ADA and ATOM tokens have seen negative returns year-to-date, with ADA down 8.1% and ATOM declining over 3.3%, contrasting sharply with the strong performance of Bitcoin and Ether.