Polygon

Avalanche

Coin

<ul class="news-points"> 
 <li>On Friday, Grayscale announced the addition of XRP to its Digital Large Cap Fund (GDLC).</li> 
 <li>XRP’s price has, however, failed to see any rally since then.</li> 
 <li>Demand for the altcoin has continued to plummet.</li> 
</ul> 
Grayscale, in a <a href="https://www.globenewswire.com/news-release/2024/01/05/2804863/0/en/Grayscale-Digital-Large-Cap-Fund-Grayscale-DeFi-Fund-and-Grayscale-Smart-Contract-Platform-Ex-Ethereum-Fund-Announce-Rebalancing-of-Funds-for-Fourth-Quarter-2023.html" target="_blank" rel="nofollow">press release</a> on Friday, announced the addition of Ripple [XRP] to its Digital Large Cap Fund (GDLC). 
GDLC is an investment product that provides exposure to a basket of the largest and most established cryptocurrencies by market capitalization. Holdings are rebalanced quarterly to maintain the fund’s target composition. 
In its latest rebalancing exercise, the digital asset investment firm disclosed that it sold off certain amounts of the fund’s components to acquire <a href="https://coinedition.com/tag/avalanche-avax/">Avalanche (AVAX)</a> and <a href="https://coinedition.com/tag/xrp-news/">XRP</a>, which led to the removal of <a href="https://coinedition.com/tag/polygon-matic/">Polygon (MATIC)</a>. 
“Grayscale has adjusted GDLC’s portfolio by selling certain amounts of the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase Avalanche (AVAX) and XRP. As a result of the rebalancing, Polygon (MATIC) has been removed from GDLC,” Grayscale said. 
According to the press release, …
The post <a href="https://coinedition.com/xrp-fails-to-react-following-its-addition-to-grayscales-digital-large-cap-fund-gdlc/">XRP Fails to React Following its Addition to Grayscale’s Digital Large Cap Fund (GDLC)</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

XRP Fails to React Following its Addition to Grayscale’s Digital Large Cap Fund (GDLC)

Coin Edition

Other articles published on Jan 6, 2024

Top Cryptocurrency Choices for 2024: Evaluating Rebel Satoshi, Chainlink, and Solana’s Potential

Lido DAO (LDO) Price Hits New Highs In Extended Rally

All eyes on Ether as Paradigm caught moving ETH on Coinbase

Celestia (TIA) Price Reaches All-Time High

Bitcoin ETF Could Lead to Harsh Crypto Downturn, Analyst Warns

Why is US-China friendship so important for the world?

Join our free newsletter for daily crypto updates!