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.

Jan 5, 2021

1 min read

XRP (Image: Shutterstock)

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.

XRP

-10.78%$2.126

24H7D1M1YMAX

Price data by

XRP price

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.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.

Recommended News

Strategy Boosts Bitcoin Holdings Above $47 Billion With Latest Buy
Strategy, formerly known as MicroStrategy, purchased 6,500 Bitcoin last week, padding its corporate coffers by $556 million, according to a Securities and Exchange Commission filing. The Tysons, Virginia-based firm now owns 538,000 Bitcoin worth $46.8 billion following Bitcoin’s climb above $87,000 on Sunday, according to crypto data provider CoinGecko. The software firm said it scooped the asset up for an average price of $84,800 last week. Strategy said the acquisition was made using proceeds...
NewsBusiness
2 min read
André BeganskiApr 21, 2025
Create an account to save your articles.
Bybit CEO: Two-Thirds of Funds From $1.4B Lazarus Group Hack Still Traceable
Over two-thirds of the $1.4 billion stolen in the largest crypto hack to date, the Bybit breach, remains traceable, despite hackers using an array of mixing services to cover their tracks, according to a new update from the exchange’s CEO. In an executive summary tweeted Monday, Bybit CEO Ben Zhou broke down the flow of roughly 500,000 ETH stolen in February, revealing that 68.57% of the funds remain traceable, 27.59% have “gone dark”, and 3.84% have been frozen with the help of exchanges. 4.21...
NewsBusiness
3 min read
Vismaya VApr 21, 2025
Create an account to save your articles.
Ripple an Early Investor in HashKey Capital's New XRP Tracker Fund in Asia
Asset manager HashKey Capital has introduced a fund tracking the performance of XRP in Asia, with the aim of fostering institutional adoption in the region for the token that is used for transactions in the Ripple network. The HashKey XRP Tracker Fund became available on Friday to institutional investors in Asia. The fund marks the first of several planned collaborations between HashKey Capital and Ripple Labs. XRP is the fourth largest cryptocurrency by market capitalization, with a total valu...
NewsBusiness
2 min read
Liz NapolitanoApr 18, 2025
Create an account to save your articles.

Coin Prices