Grayscale eliminates XRP from its Digital Large Cap Fund
Grayscale, the crypto asset manager eliminated XRP from its Digital Large Cap Fund. Grayscale announced this news on Tuesday stating that its sold all the XRP from its funds on Monday. In return, it bought more BTC, ETH, LTC, and BCH. XRP had a 1.46% share in the fund.
The updated components of the fund are BTC (81.63%), ETH (15.86%), LTC (1.43%), and BCH (1.08%). However, Grayscale didn’t mention the recent lawsuit filed by the SEC against Ripple as the reason for the removal of XRP from the fund.
Instead, Grayscale said Genesis Global Trading that the fund’s authorized participant is eliminating XRP trading on January 15. So, it had to remove XRP. It is still unclear if Grayscale’s other XRP product, Grayscale XRP Trust, will also face a similar scenario.
