Grayscale Adjusts Fund Portfolio in Q2: Adds ONDO and HBAR, Boosts Cardano Exposure

Grayscale Investments, a leading global crypto asset manager, has updated its fund lineup for the second quarter of 2025. The firm introduced Ondo (ONDO) to its DeFi Fund (DEFG) and removed Polkadot (DOT) from its Smart Contract Fund (GSC). Notably, Grayscale increased its holdings in Cardano (ADA) and included Hedera (HBAR) for the first time. These adjustments occur as Bitcoin's market dominance rebounds to approximately 64.1%, with Ethereum, the leading altcoin, accounting for 9.4% of the market. The global digital assets market capitalization saw a slight increase to $3.38 trillion, though daily trading volume stayed under $100 billion.

ONDO now represents over 18% of the DeFi Fund, joining major players like Uniswap (UNI) at 34.01% and Aave (AAVE) at 30.74%. The fund also includes Maker, Curve, and Lido. Grayscale's endorsement has positively impacted ONDO's price, which rose by 3% in the last 24 hours, despite a nearly 40% year-to-date decline. Currently, ONDO trades at an average price of $0.81, with a 6% increase in 24-hour trading volume to $87.45 million.

The Smart Contract Fund welcomed HBAR, now holding a 5.8% share, alongside Ethereum (30%) and Solana (29%). Cardano's position strengthened to 18.5%, making it the fund's third-largest holding. HBAR's price surged over 7% in the last day and 16% over the week, trading at $0.17 with a 25% jump in daily volume to $227 million. Ethereum and Solana also saw gains, with ETH up 3% and SOL 2%.

Grayscale's Bitcoin Fund (GBTC) has experienced a $23.34 billion outflow since inception, yet retains $20.03 billion in BTC. Bitcoin's price remains above $109,000. The firm's Ethereum Trust (ETHE) and Ethereum Mini Trust (ETH) recorded inflows of $7.78 million and $9.35 million, respectively, in the last session, despite ETHE's $4.29 billion outflow since listing.