XRP & Cardano (ADA) Snubbed Again: Grayscale’s Q3 Top 20 Crypto List Excludes Market Favorites

Grayscale’s latest quarterly report just dropped—and two crypto heavyweights didn’t make the cut. Again.

XRP and Cardano (ADA), despite their loyal followings and market caps that’d make mid-tier banks blush, got left out of Grayscale’s Q3 Top 20. No explanations, no apologies—just cold, hard institutional indifference.

Meanwhile, the usual suspects (hello, Bitcoin and Ethereum) hog the spotlight. Surprise, surprise—Wall Street’s crypto gatekeepers love the blue-chips. Who needs innovation when you’ve got brand recognition?

Funny how ‘decentralized’ finance still dances to the tune of asset managers’ spreadsheets. Maybe next quarter, folks.

Grayscale Adds AVAX and MORPHO

Grayscale has added Avalanche (AVAX) and Morpho after analyzing hundreds of digital assets. The approach combines a range of factors, including network growth, upcoming catalysts, sustainability of fundamentals, token valuation, token supply inflation, and potential tail risks.

The company uses its proprietary taxonomy and family of indexes called crypto Sectors, developed in partnership with FTSE/Russell, to shuffle crypto assets in the Grayscale Research Top 20 list.

While Avalanche (AVAX) and Morpho (MORPHO) earned new spots for their growing fundamentals, two major Ethereum ecosystem players, Lido DAO (LDO) and Optimism (OP), were removed. Despite leading their categories, both tokens fell short on near-term momentum and token value capture. Grayscale’s move hints at a pivot toward adoption metrics over long-term alignment.

However, the exclusion of XRP and ADA, along with LDO and OP, raises eyebrows as these tokens hold major growth potential amid the latest developments. Notably, the U.S. SEC recently agreed that certain staking activities are not securities transactions.

As a result, many issuers have filed to include in-kind redemptions and staking in their Solana ETF applications to the SEC. Notably, XRP, Solana, and cardano have received at least 90% approval odds from Bloomberg analysts.

Grayscale has even filed to convert XRP and Cardano trusts to ETF amid higher chances of approval by the new SEC in the TRUMP administration.

XRP and ADA Price Plunge

XRP price fell more than 4% in the past 24 hours, with the price currently trading at $2.09. The 24-hour low and high are $2.08 and $2.20, respectively. Furthermore, the trading volume has increased by 20% in the last 24 hours, indicating a rise in interest among traders.

Meanwhile, ADA price slipped more than 2% in the past 24 hours, with the price currently trading at $0.555. The 24-hour low and high are $0.571 and $0.574, respectively.

Also Read: Grayscale Fund With XRP, Cardano May Get Approval Before solana ETFs