Scott Chipolina

Digital asset manager Grayscale Investments sold all XRP in its Digital Large Cap Fund at the end of December, according to a statement today.

XRP amounted for about 1.5% of the fund. Grayscale sold all its XRP to purchase Bitcoin, Ethereum, Litecoin and Bitcoin Cash.

Now, the fund’s components include over 80% Bitcoin, 15% Ethereum, 1.4% Litecoin and just over 1% of Bitcoin Cash.

> 3/ $XRP was removed following DLC Fund's Quarterly Review (12/31/20). No others assets qualified for inclusion. The below table highlights DLC Fund’s weightings as of January 4, 2021: $BTC $ETH $BCH $LTC pic.twitter.com/g3QQEf0kd8
> 
> — Grayscale (@Grayscale) January 5, 2021

While Grayscale did not refer to Ripple’s ongoing battle with the SEC over the XRP cryptocurrency, the firm reportedly said XRP had to be removed from the fund after Genesis Global Trading—the fund’s authorized participant—suspended XRP trading.

Many exchanges in the US have already suspended trading of XRP, citing the lawsuit, including Coinbase and Bitstamp. Some exchanges in the US have delisted it fully, including Binance.US, Crypto.com and Bittrex.


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<span data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Bitcoin (BTC) is a peer-to-peer cryptocurrency, originally described in a 2008 paper by the pseudonymous Satoshi Nakamoto. Launched in January 2009, it was the world’s first cryptocurrency, and remains the most popular, with the highest market capitalization of all cryptocurrencies.\r\n\r\nBitcoin was built on several key innovations. Firstly, Nakamoto guaranteed that Bitcoin transactions were immutable, by recording all transactions on a distributed ledger known as a blockchain. Secondly, he ensured Bitcoin’s scarcity by capping the total number of Bitcoin in existence at 21 million. Finally, the community was incentivized to verify transactions by receiving rewards in the form of “mined” Bitcoin for checking the accuracy of the blockchain.\r\n&quot;}" data-sheets-userformat="{&quot;2&quot;:803,&quot;3&quot;:{&quot;1&quot;:0},&quot;4&quot;:{&quot;1&quot;:2,&quot;2&quot;:14281427},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;11&quot;:4,&quot;12&quot;:0}">Bitcoin (BTC) is a peer-to-peer cryptocurrency, originally described in a 2008 paper by the pseudonymous Satoshi Nakamoto. Launched in January 2009, it was the world’s first cryptocurrency, and remains the most popular, with the highest market capitalization of all cryptocurrencies.</span>

Bitcoin was built on several key innovations. Firstly, Nakamoto guaranteed that Bitcoin transactions were immutable, by recording all transactions on a distributed ledger known as a blockchain. Secondly, he ensured Bitcoin’s scarcity by capping the total number of Bitcoin in existence at 21 million. Finally, the community was incentivized to verify transactions by receiving rewards in the form of “mined” Bitcoin for checking the accuracy of the blockchain.

Bitcoin

Bitcoin (BTC) is a peer-to-peer cryptocurrency, originally described in a 2008 paper by the pseudonymous Satoshi Nakamoto. Launched in January 2009, it was the world’s first cryptocurrency, and remains the most popular, with the highest market capitalization of all cryptocurrencies.

Bitcoin was built on several key innovations. Firstly, Nakamoto guaranteed that Bitcoin transactions were immutable, by recording all transactions on a distributed ledger known as a blockchain. Secondly, he ensured Bitcoin’s scarcity by capping the total number of Bitcoin in existence at 21 million. Finally, the community was incentivized to verify transactions by receiving rewards in the form of “mined” Bitcoin for checking the accuracy of the blockchain.

<span data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;First described in a 2013 whitepaper by programmer Vitalik Buterin, Ethereum (ETH) is a cryptocurrency and blockchain platform that allows developers to create programs and run smart contracts using its native language. It can thus be viewed as a virtual computer, whose resources are paid for using Ether.\r\n\r\nIn 2020, Ethereum began the transition to Ethereum 2.0, in which its proof-of-work consensus mechanism is replaced by a proof-of-stake model. The aim of the upgrade is to increase Ethereum’s scalability and security.\r&quot;}" data-sheets-userformat="{&quot;2&quot;:547,&quot;3&quot;:{&quot;1&quot;:0},&quot;4&quot;:{&quot;1&quot;:2,&quot;2&quot;:14281427},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;12&quot;:0}">First described in a 2013 whitepaper by programmer Vitalik Buterin, Ethereum (ETH) is a cryptocurrency and blockchain platform that allows developers to create programs and run smart contracts using its native language. It can thus be viewed as a virtual computer, whose resources are paid for using Ether.</span>

In 2020, Ethereum began the transition to Ethereum 2.0, in which its proof-of-work consensus mechanism is replaced by a proof-of-stake model. The aim of the upgrade is to increase Ethereum’s scalability and security.

Ethereum

First described in a 2013 whitepaper by programmer Vitalik Buterin, Ethereum (ETH) is a cryptocurrency and blockchain platform that allows developers to create programs and run smart contracts using its native language. It can thus be viewed as a virtual computer, whose resources are paid for using Ether.

In 2020, Ethereum began the transition to Ethereum 2.0, in which its proof-of-work consensus mechanism is replaced by a proof-of-stake model. The aim of the upgrade is to increase Ethereum’s scalability and security.

<span data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;XRP is a cryptocurrency designed to facilitate transfers between financial institutions. Ripple, the project behind XRP, differs from both Bitcoin and Litecoin in several key aspects: it relies on sale as opposed to mining as a means of freeing up new currency, and its transaction speeds are of a different order of magnitude (nearly 1,000 transactions per second to Bitcoin’s 7 tps) .\r\n\r\nWhile the ideas behind XRP date back to 2004, the currency was created in 2012 by Jed Caleb and Chris Larsen.\r&quot;}" data-sheets-userformat="{&quot;2&quot;:803,&quot;3&quot;:{&quot;1&quot;:0},&quot;4&quot;:{&quot;1&quot;:2,&quot;2&quot;:14281427},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;11&quot;:4,&quot;12&quot;:0}">XRP is a cryptocurrency designed to facilitate transfers between financial institutions. Ripple, the project behind XRP, differs from both Bitcoin and Litecoin in several key aspects: it relies on sale as opposed to mining as a means of freeing up new currency, and its transaction speeds are of a different order of magnitude (nearly 1,000 transactions per second to Bitcoin’s 7 tps) .</span>

While the ideas behind XRP date back to 2004, the currency was created in 2012 by Jed Caleb and Chris Larsen.

XRP is a cryptocurrency designed to facilitate transfers between financial institutions. Ripple, the project behind XRP, differs from both Bitcoin and Litecoin in several key aspects: it relies on sale as opposed to mining as a means of freeing up new currency, and its transaction speeds are of a different order of magnitude (nearly 1,000 transactions per second to Bitcoin’s 7 tps) .

While the ideas behind XRP date back to 2004, the currency was created in 2012 by Jed Caleb and Chris Larsen.

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Digital asset manager Grayscale Investments has sold all the XRP in its Digital Large Cap Fund. It has bought Bitcoin and other coins instead.

Grayscale Sells All XRP in Large Cap Fund for Bitcoin, ETH

Digital asset manager Grayscale Investments has sold all the XRP in its Digital Large Cap Fund. It has bought Bitcoin and other coins instead.