Just-In: Grayscale Launches Smart Contracts Fund For Non-Ethereum Projects

Published by
Just-In: Grayscale Launches Smart Contracts Fund For Non-Ethereum Projects

Grayscale Investments said on Tuesday it had launched a fund that tracked smart contract blockchain platforms apart from Ethereum. The fund will largely focus on popular and upcoming projects in the smart contracts space, with nearly half of its weighting made up by Cardano and Solana.

The new fund, called Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE), will track Coindesk’s Smart Contract Platform Select Ex ETH Index, the digital assets manager said.

Advertisement

Grayscale sees growing demand for crypto exposure

The asset manager cited growing investor demand for diversified crypto exposure as the reasoning behind the new fund. It will offer the new fund to individual and institutional traders.

Smart contract technology is critical to the growth of the digital economy, but it’s still too early to know which platform will win. (Through GSCPxE) investors do not have to choose one winner, and instead can access the development of the smart contract platform ecosystem through a singular investment vehicle.

-Grayscale CEO Michael Sonnenshein

Cardano (ADA) and Solana (SOL) will make up about 49% of the fund. Avalanche (AVAX), Polkadot (DOT), Polygon (MATIC), Algorand (ALGO) and Stellar (XLM), will make up the remaining weightage.

Grayscale already has a fund dedicated to Ethereum. This is the firm’s first foray into non-ETH smart contract products.

Smart contracts are a class of program that operate automatically under certain conditions, and are a major factor in DeFi and Decentralized Autonomous Organizations.

Ethereum has also ballooned in popularity this year, ahead of the network’s hotly-anticipated shift to proof-of-stake status.

Advertisement

Move comes amid growing institutional interest in crypto

The fund, which is Grayscale’s 18th offering, highlights the growing presence of asset managers and hedge funds in crypto since late-2020. A large boom in crypto market capitalization last year has been largely attributed to institutional trading.

That momentum has carried over into this year. Recent data showed that nearly all of Bitcoin’s liquidity was comprised of large traders. More recently, Goldman Sachs became the first Wall Street Bank to offer over-the-counter crypto option trades, a product aimed largely at institutional clients.

Advertisement
Share
Ambar Warrick

With more than five years of experience covering global financial markets, Ambar intends to leverage this knowledge towards the rapidly expanding world of crypto and DeFi. His interest lies chiefly in finding how geopolitical developments can impact crypto markets, and what that could mean for your bitcoin holdings. When he isn't trawling through the web for the latest breaking news, you can find him playing videogames or watching Seinfeld reruns. You can reach him at ambar@coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Pi Coin Gains Another 15% As Pi Network Joins ISO 20022 For Seamless Banking Integration

Pi Network's native cryptocurrency, Pi Coin, is getting major attention with a continued rally upwards,…

October 29, 2025
  • News

Bitwise Solana Staking ETF (BSOL) Makes Record Debut with $69.5M Inflows, $289M NAV

Bitwise Solana Staking ETF (BSOL) makes an impressive debut with massive inflows and trading volumes,…

October 29, 2025
  • News

Trump Insider Whale Reloads $430M Long on BTC, ETH Ahead of Tomorrow’s Fed Rate Cut Decision

The “Trump Insider whale” has reportedly opened a $430 million long position in Bitcoin and…

October 29, 2025
  • News

Breaking: $2.6B Western Union Announces Plans for Solana-Powered Stablecoin by 2026

Western Union has announced plans to launch a U.S. dollar-backed stablecoin built on the Solana…

October 28, 2025
  • News

Trump Media Launches Polymarket Rival, Eyes $9B Prediction Market with Crypto.com

Trump Media & Technology Group has announced a partnership with Crypto.com to launch Truth Predict.…

October 28, 2025
  • News

Bitget Lists Common Token, Launchpool Offers 36M COMMON in Rewards

Bitget, the top Universal Exchange (UEX), has introduced the COMMON token to its Launchpool, as…

October 28, 2025