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.

The move comes a couple weeks after fellow asset manager Bitwise liquidated $9.3 million in XRP from its crypto index fund and the U.S. Securities and Exchange Commission filed a suit against Ripple, alleging it had conducted an unregistered sale of securities with its XRP token.

Grayscale still operates a standalone XRP Trust. Tuesday’s announcement made no reference to the fate of that product. A request for comment was not immediately returned.

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