Grayscale Gives BNB Crown Over Ethereum and Solana
Grayscale Investments has made significant changes to its Smart Contract Fund, pushing BNB to the top as its largest holding. This move comes after a portfolio review in the second quarter, where Grayscale reduced exposure to existing holdings and added BNB with a 30.6% allocation.
In total, the fund now holds: BNB at 30.6%, Ether (ETH) at 29.47%, Solana (SOL) at 29.15%, Cardano (ADA) at 4.88%, Hedera (HBAR) at 2.08%, Avalanche (AVAX) at 1.92%, Sui (SUI) at 1.90%. To accommodate the increase in BNB, Grayscale sold portions of its existing holdings, with Cardano seeing one of the biggest cuts.
The move is seen as a sign that institutional investors now view the Binance ecosystem as one of the strongest blockchain platforms alongside Ethereum and Solana. This is due to rapid growth on the BNB Chain through tokenized assets, decentralized finance (DeFi), and enterprise blockchain activity.