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Grayscale Removes XRP from Its Digital Large Cap Fund

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Tue, 01/05/2021 - 14:27
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Yuri Molchan
Grayscale crypto fund has just announced it no longer holds XRP in its DLC fund
Grayscale Removes XRP from Its Digital Large Cap Fund
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Grayscale Investments has posted a tweet to spread the word that it has removed Ripple's token from its Digital Large Cap (DLC) fund.

XRP
Image via Twitter

Grayscale partly gets rid of XRP

As the tweet explains, DLC fund is a rule-based strategy that provides exposure for investors to the market segment of crypto assets with large market capitalization.

Now, this fund consists of Bitcoin, Ethereum, Litecoin and Bitcoin Cash. XRP has been excluded after the Quarterly Review made on Dec. 31, with the results just announced.

The company did not say anything about abolishing the Grayscale XRP Trust, so the fourth biggest currency seems to remain among the crypto assets under its management.

By now, Grayscale holds over $20 billion in crypto assets in management.

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XRP getting delisted by crypto platforms

Following the recent legal action started by the SEC against Ripple, multiple crypto platforms have announced their plans to part ways with Ripple's token, which is alleged by the SEC to be an unregistered security.

Among the crypto giants that intend to delist XRP are Binance US, Coinbase, Bittrex, Bitstamp and eToro.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.