Grayscale Investments unveils a fund aimed at Ethereum competitors

Grayscale Investments, known for its most popular Grayscale Bitcoin Trust (OTC:GBTC), has unveiled a new fund specializing in competitors to Ethereum (ETH-USD), including names like Cardano (ADA-USD), Solana (SOL-USD) and Avalanche (AVAX-USD). The Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE) represents the 18th investment product from the world's largest digital currency asset manager. The fund delivers exposure to an assortment of what's known as smart contract platforms. The GSCPxE operates through a market-cap based weighted portfolio that is intended to track the CoinDesk Smart Contract Platform Select Ex ETH Index. The fund comes forward with a 2.5% annual fee and is made up of the following assets: Cardano (ADA-USD) at 24.63%, Solana (SOL-USD) at 24.27%, Avalanche (AVAX-USD) at 16.96%, Polkadot (DOT-USD) at 16.16%, Polygon (MATIC-USD) at 9.65%, Algorand (ALGO-USD) at 4.27%, and Stellar (XLM-USD) weighted at 4.06% Grayscale CEO Michael Sonnenshein stated: "Smart contract technology is critical to the growth of the