Grayscale Removes XRP From its DLC Fund, Buys More BTC and ETH
Grayscale, the crypto fund manager today announed the delisting of XRP from its Grayscale Removes XRP From its Digital Large Cap Fund (DLC) post the quarterly review. The fund manager also notified that it has utilized the cash proceeds from the sale of XRP towards buying more bitcoin, ethereum, and other assets.
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
Grayscale in its official press release noted that they have removed XRP from the DLC funds which had a weightage of about 1.46%. The official press release noted,
The Authorized Participant of the Fund, announced that effective January 15, 2021, at 5 p.m. ET, it would temporarily suspend trading for XRP. The firm has sold the XRP holdings to purchase additional tokens of the remaining Fund Components in proportion to their respective weightings.
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