- On Friday, Grayscale announced the addition of XRP to its Digital Large Cap Fund (GDLC).
- XRP’s price has, however, failed to see any rally since then.
- Demand for the altcoin has continued to plummet.
Grayscale, in a press release 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 Avalanche (AVAX) and XRP, which led to the removal of Polygon (MATIC).
“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, …
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