Grayscale Investments has increased Cardano's allocation in its Smart Contract Fund to 20.12%, making it the fund's third-largest holding after Solana and Ethereum. This adjustment, up from 19.50%, reflects a series of small changes rather than a major rebalance, indicating sustained institutional interest despite Cardano's muted network growth and subdued price performance. The fund, which provides diversified exposure to leading blockchain platforms, signals continued confidence in Cardano's potential, particularly as it explores Bitcoin-based DeFi initiatives. While ADA's price remains around $0.28, the incremental increase in allocation suggests a strategic positioning by Grayscale. The move underscores a long-term investment approach rather than short-term trading, as Cardano continues to develop its infrastructure and expand its ecosystem.