Hedera’s HBAR Rises After Inclusion in Grayscale Fund

Hedera’s native token, HBAR (HBAR), traded higher after being added to the Grayscale Smart Contract Platform Fund (GSC). HBAR, up about 2% over the past 24-hour period, replaced Polkadot (DOT) in the fund, which rebalanced on Monday. The token was trading at $0.1614 at press time, up about 11% over the past seven days. “In accordance with the CoinDesk Smart Contract Platform Select Capped Index methodology, Grayscale has adjusted GSC Fund’s portfolio by selling Polkadot (DOT) and existing Fund Components in proportion to their respective weightings, and using the cash proceeds to purchase Hedera (HBAR) and existing Fund Components in proportion to their respective weightings,” Grayscale wrote in a statement Monday. HBAR carries a 5.8% weight within the fund, with other additions, including Ether (ETH), Solana (SOL), Cardano (ADA), Sui (SUI), and Avalanche (AVAX). The token’s performance during the final trading hour illustrated sophisticated market dynamics, with a controlled 2% range suggesting professional money management rather than retail speculation. Trading volumes of 77.7 million, 145.7 million and 97.5 million during afternoon hours substantially exceeded daily averages, indicating sophisticated market participants are accumulating positions ahead of potential enterprise announcements.

Source: CoinDesk