Grayscale Investments becomes the latest major investor to break off with the Ripple token.

Grayscale Investments, the world’s largest cryptocurrency asset manager, announced on Tuesday that it is liquidating its XRP assets and is using the remaining funds to buy more Bitcoin (BTC), Bitcoin Cash (BCH) and Litecoin (LTC).

The decision affects the Grayscale Digital Large Cap Fund (OTCQX: GDLC), a market value-weighted asset that provides indirect investment in the largest cryptocurrencies by market cap. The sale of XRP came on January 4, less than a week after the fund’s Authorized Participant Genesis Global Trading announced that it would temporarily suspend XRP trading, possibly in connection with the lawsuit filed by the US Securities and Exchange Commission against Ripple. .

Genesis Global Trading plans to stop all XRP transactions on January 15th.
Prior to Monday’s sale, XRP accounted for roughly 1.46% of the Digital Big Equity Fund. The components of the fund now weighed 81.63% BTC, 15.86% ETH, 1.08% BCH and 1.43% LTC. Each share represents 0.00047489 BTC, 0.00287011 ETH, 0.00047537 BCH and 0.00167314 LTC.

Grayscale also confirmed the new composition of the fund in a series of Twitter posts on Tuesday.

The fund manager said the XRP was removed following the “Quarterly Review of the DLC Fund (12/31/20). They added that they have yet to see any other beings eligible for inclusion.

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