Grayscale Says Cardano Is Flexible, Scalable, and Now Solid

Grayscale Investments has heaped praise on Cardano, emphasizing its growing strength following its debut among the cryptocurrencies featured in the firm’s GDLC ETF.

The Grayscale CoinDesk Crypto 5 ETF (GDLC) commenced trading on the New York Stock Exchange in September. This fund provides U.S. investors with exposure to the performance of five major cryptocurrencies, including Bitcoin, Ethereum, XRP, Solana, and Cardano.

Cardano’s Attributes

Despite not shedding light on the fundamentals, Cardano is known for its flexibility and support for a wide range of use cases, including decentralized finance and real-world asset (RWA) tokenization initiatives.

Thanks to its proof-of-stake (PoS) consensus mechanism, Cardano’s scalability is not in question. With the PoS algorithm, Cardano processes transactions faster and more efficiently compared to traditional Proof-of-Work systems, like Bitcoin.

For context, Cardano recently reached a significant milestone, recording one million transactions per second (TPS) during testing of its Hydra scaling solution. While it remains uncertain whether Hydra can replicate this performance once deployed on the mainnet, many believe the solution will substantially boost Cardano’s scalability.

Following ADA’s inclusion in the GDLC ETF, Grayscale affirmed that Cardano is now solid, implying that the project is currently more stable and reliable.

Meanwhile, the GDLC currently has a net asset value of $50.70 and a total AUM of $625.51 million. Cardano represents 0.77% of the fund’s overall weighting in the hours leading up to press time