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January 4, 2024, Grayscale
grayscale
lending and borrowing
The investment strategically restructured the digital large-cap fund’s portfolio, as revealed in an SEC filing. The company incorporated XRP and AVAX in response to XRP’s legal settlement and CNBC’s visibility.
Bill Morgan praises
bill morganThe lawyer and crypto enthusiast was pleased with Grayscale’s decision to include XRP and Avalanche (AVAX) in its digital large-cap fund. The announcement comes from his Grayscale Investments Form 8-K filed with the Securities and Exchange Commission on January 4, 2024.
The filing describes a quarterly review and portfolio rebalancing for Grayscale’s Digital Large Cap Fund. Grayscale strategically added his AVAX and XRP and sold MATIC, indicating that the company is adjusting its holdings based on market trends.
Morgan noted that the Torres decision provides legal clarity regarding the status of XRP and how it can be used, especially after the dissolution of the trust in 2021 due to ongoing litigation.
The clear legality of XRP and CNBC highlights
Morgan’s tweet also referenced CNBC’s “CryptoWatch” feature, which was sponsored by Grayscale and featured the prices of cryptocurrencies such as Bitcoin, Ethereum, and XRP. The legal transparency achieved by XRP thanks to the Torres case probably played a key role in Grayscale’s decision to reintegrate it into the company’s portfolio, which dates back to 2021 from its position on XRP trust liquidation. It was an important move to leave.
Also read: Ripple Prediction 2024: What will happen to XRP price amid IPO rumors
Grayscale’s new portfolio composition
As of January 4, 2024, according to the CoinDesk Large Cap Select Index (DLCS), Grayscale rebalances 69.15% BTC, 21.90% ETH, 3.65% SOL, 2.54% XRP, 1.62% ADA, and 1.14% This is a portfolio consisting of. AVAX As of January 4, 2024.
The conclusion is…
Grayscale’s choice to add XRP and AVAX to its digital large-cap fund in parallel with the upcoming filing of a Bitcoin ETF marks market responsiveness and anticipation of regulatory decisions. ing.
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