Grayscale Drops XRP From Large Cap Crypto Fund Following Ripple SEC Suit
Digital asset manager Grayscale Investments is following Bitwise’s footsteps in removing XRP from its large-cap crypto fund.
The firm, which is owned by CoinDesk parent company Digital Currency Group, announced Tuesday it would no longer hold XRP in the Grayscale Digital Large Cap Fund, which is also made up of BTC, ETH, BCH and LTC.
Grayscale still operates a standalone XRP Trust but stopped accepting new subscriptions to the fund on Dec. 23, Craig Salm, Grayscale’s legal director, said via email.
“Existing investors in the Trust will continue to receive annual reports, audited financial statements, and tax information statements,” Salm said. “The Trust will continue its daily 4 PM NAV striking as well as other associated functions pursuant to the Trust’s governing documents.”