Grayscale removes XRP from its Digital Large Cap Fund

Crypto asset manager Grayscale has removed XRP from its Digital Large Cap Fund.

Announcing the news on Tuesday, Grayscale said it sold all XRP from the fund on Monday and bought more of bitcoin (BTC), ether (ETH), litecoin (LTC), and bitcoin cash (BCH). XRP was approximately 1.46% of the fund.

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The revised components of the fund are BTC (81.63%), ETH (15.86%), LTC (1.43%), and BCH (1.08%).

Grayscale did not mention the recent lawsuit filed against Ripple by the U.S. Securities and Exchange Commission (SEC) as a reason for removing XRP from the fund. But said Genesis Global Trading, the fund's authorized participant, is suspending XRP trading on January 15, so it had to remove the asset.

It is not clear whether Grayscale's other XRP product, Grayscale XRP Trust, would face similar action. The Block has reached out to the firm and will update this story should we hear back.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.