Grayscale Shakes Up Q2 Portfolio: Adds ONDO & HBAR, Bets Big on Cardano
Grayscale just reshuffled its crypto deck—and the market's taking notes. The digital asset giant dropped two new tokens into its lineup while doubling down on a controversial smart contract platform.
New blood, old bets
ONDO and HBAR scored coveted spots in Grayscale's Q2 rebalance, joining the institutional investment club. Meanwhile, Cardano—the blockchain people love to debate—got a surprise vote of confidence with increased weighting.
Whale moves move markets
When Grayscale sneezes, altcoins catch colds. The fund's quarterly rebalances routinely send ripples through crypto markets, proving once again that in finance, having 'smart money' status means never having to say you're momentum-chasing.
Grayscale bets big on ONDO and HBAR
As per the report, ONDO now makes up over 18% of the DeFi fund. It joined heavyweights like Uniswap (UNI) at 34.01% and Aave (AAVE) at 30.74%. The DEFG also holds Maker, Curve, and Lido. Grayscale’s move suggests that ONDO’s tokenized treasury offerings and real-world asset narrative are working.
Grayscale’s listing has sent Ondo Price up by 3% in the last 24 hours. However, it is still down by almost 40% over the year-to-date metric. ONDO is trading at an average price of $0.81 at press time. Its 24-hour trading volume jumped by 6% to hit $87.45 million.
Smart Contract Fund retired Polkadot while adding Hedera to the mix. HBAR now holds 5.8% of the fund’s weight. It joined ethereum (ETH) at 30% and Solana (SOL) at 29%. At the same time, Cardano’s share is rising. It is now the third-largest position with 18.5% weightage.
HBAR price saw a spike of more than 7% in the last 24 hours, running up by 16% in the last 7 days. Hedera is trading at an average price of $0.17 at press time, and its 24-hour trading volume skyrocketed by 25% to hit $227 million.
Ethereum and Solana have also posted gains over the last day. ETH price jumped by 3% while Solana grew 2%.
Grayscale’s Bitcoin fund has lost $23B
According to the report, the Grayscale Decentralized AI Fund (AI Fund) retained its list of tokens, but there were shifts in weight. Top holdings include Bittensor (TAO) at 29.10%, NEAR Protocol (NEAR) at 28.41%, and Render (RENDER) at 17.34%.
On the market side, NEAR price posted a rally of 6% in the last 24 hours. The fresh surge is still unable to provide relief from the token’s long-running decline. It is down by 53% on the YTD metric.
At the end of the day on 7/3/2025, Grayscale DeFi Fund’s Components were a basket of the following assets and weightings. $UNI $AAVE $ONDO $MKR $CRV $LDO
Learn more: https://t.co/NVmKik5XRM pic.twitter.com/UYQ820xol4
— Grayscale (@Grayscale) July 7, 2025
Grayscale has a US Bitcoin ETF under the ticker GBTC. Data shows that the fund has bled $23.34 billion since its launch. It still holds $20.03 billion worth of BTC. Bitcoin price is hovering above the $109K zone.
The investment fund also holds Ethereum Trust (ETHE) and Ethereum Mini Trust (ETH). ETHE and ETH recorded an inflow of $7.78 million and $9.35 million in the last trading session. ETHE has hemorrhaged $4.29 billion since it was listed, while ETH has posted an inflow of $759 billion.
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