Grayscale has removed Cardano (ADA) from its CoinDesk Crypto 5 ETF (GDLC) and replaced it with Binance Coin (BNB) following its quarterly fund rebalance. This adjustment aligns the GDLC fund with the updated CoinDesk 5 Index, which now includes Bitcoin, Ethereum, XRP, Solana, and BNB. The rebalancing resulted in the sale of ADA holdings and a proportional adjustment of other assets to incorporate BNB. As of February 2, 2026, the GDLC ETF's composition is 74.21% Bitcoin, 13.34% Ethereum, 4.97% BNB, 4.68% XRP, and 2.80% Solana. Despite ADA's removal from GDLC, it remains part of other funds like the Bitwise 10 Crypto Index ETF and the Hashdex Nasdaq Crypto Index US ETF. Cardano's exclusion raises questions about its future in institutional portfolios, although it continues to seek a standalone spot ETF, with Grayscale's application under SEC review.