Connect with us

Ripple and XRP News

Grayscale Investments Reintroduces XRP to Digital Large Cap Fund Amid ETF Speculation




In a recent announcement on January 5, Grayscale Investments, a prominent U.S. digital asset management firm, disclosed strategic changes in its Digital Large Cap Fund (GDLC).

The move involved the reintroduction of XRP, Ripple’s native cryptocurrency, to the fund, marking a significant shift since its removal in January 2021 amid the SEC’s legal actions against Ripple.

Grayscale’s quarterly rebalancing also saw an increased exposure to Avalanche (AVAX) tokens, further diversifying its investment portfolios. Notably, XRP now holds a 2.54% share of GDLC’s market capitalization, securing its position as the fourth-largest holding, trailing behind Bitcoin, Ethereum, and Solana.

XRP’s Journey from SEC Scrutiny to Grayscale’s Portfolio

The decision to reintegrate XRP into GDLC has sparked renewed speculation about the potential launch of an XRP Exchange-Traded Fund (ETF), indicating possible market movements. This move follows a crucial court ruling in July 2023 that categorized XRP as a non-security, paving the way for its reconsideration in investment portfolios.

Grayscale’s strategic move has garnered enthusiasm within the XRP community, seen as a pivotal step toward legitimizing the token’s status and reinstating it within prominent investment portfolios. The crypto community now awaits further developments, closely monitoring potential hints or official announcements regarding the launch of an XRP ETF.

Despite Bitcoin and Ethereum dominating discussions around spot ETFs, XRP stands out as the only altcoin with a clear legal standing in the U.S. Yet, questions arise about why established asset management firms, including BlackRock, have not pursued the idea of an XRP ETF, given the clarity surrounding its regulatory status.

However, Grayscale has not officially hinted at such a launch, leaving market observers and XRP enthusiasts eagerly anticipating further developments that could potentially reshape the cryptocurrency investment landscape.

Gracie Perez is a part of RippleCoinNews team since we started. she holds a degree in Computer Sciences. From 2017, She has pivoted her career towards blockchain technology, with principal interest in writing Cryptocurrency news and different guides. She is also working with different online media outlets.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Press Release

Ledger Nano X - The secure hardware wallet