Grayscale has bought the Cardano, which is now the third-largest holding in its large-cap crypto fund.

What is Grayscale?
Grayscale Investments is the world's largest digital currency assets manager with approx. 46 billion $ assets under management. Grayscale provides exposure to the digital currency asset class in the form of traditional security without the challenges of buying, storing, and safekeeping digital currency directly.

Cardano aka ADA become the third-largest holding of Grayscale
Yesterday Grayscale announced that they have bought a large amount of Cardano making it their third-largest holding. Cardano had hit the dollar value when almost all the cryptos took a blow. in April the Cardano crossed the $2 mark. Though there is no sudden spike in the prices of Cardano after the purchase by Grayscale but value of the coin will gradually increase as shown by the graph. Over a day the prices have already improved and probably will in the future.
Cardano overtook the BTH and Litecoin to become the third-largest fund in Grayscale inventory, changing this currency's odds.

The Grayscale holding sold a few existing crypto assets to buy the Cardano making it the third-largest fund. This could tell us how confident the Grayscale is in ADA so the chances of this coin to perform better in the future are great.