Grayscale Investments has joined other exchanges and funds in removing its support of Ripple’s XRP token.
Being the world’s largest digital currency asset manager and one of the biggest Bitcoin whales out there, Grayscale’s removal of XRP from its fund is major, as XRP whales have one by one dumped XRP following the SEC’s lawsuit against Ripple. Grayscale’s decision to remove XRP from its fund follows that of its participant, Genesis Global Trading Inc., who announced that XRP trades will temporarily be suspended on its platform, effective January 15.
Grayscale said that its Grayscale Digital Large Cap Fund (OTCQX:GDLC) has removed all XRP from its portfolio and sold all of its holdings after a quarterly review. The cash proceeds from the XRP sales have been redirected towards more purchases of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and