This Wall Street giant is quickly getting rid of Ripple (XRP) … and he doesn’t want to hear about it anymore! – Inspired Traveler

XRP still badly handled Bad news continues to fall for Ripple Labs and its interbank token. The investment company Grayscale has indeed just taken one more step towards the total withdrawal of XRP from its crypto funds intended for institutions.

Ripple’s XRP abandoned by Grayscale

The society Ripple Labs, issuer of XRP, accumulates troubles since the Securities and Exchange Commission (SEC) qualified its interbank token securities (securities).

Among the crypto exchanges and offers offering XRP, Grayscale Investments already had stopped all new subscriptions (and canceled those pending) for his investment fund Grayscale XRP Trust.

In a new press release shared by OTC Markets, Grayscale now announces that its multi-cryptocurrency fund – the Grayscale Digital Large Cap Fund (GDLC) – does not contain no more XRP, quite simply.

The decision was recorded on December 31, 2020. The XRP of this fund was thus all resold, to be replaced by the 4 other crypto-assets of the Digital Large Cap Fund. Grayscale thus bought more Bitcoin (BTC), d’Ethereum (ETH), de Litecoin (LTC) and Bitcoin Cash (BCH) instead of the Ripple token.

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The new composition of this fund (below) also always gives pride of place to bitcoins, which weigh 81,6 % alone, followed by the ethers which constitute 15,9 %, litecoins and other Bcash making up the last remaining percent.

The XRPs, however, represented only one small share (1.4%) GDLC before their (definitive?) withdrawal.

With this new defection, Ripple finds himself more and more isolated in the face of the SEC’s accusations. Will Grayscale go so far as to completely dissolve its XRP fund? In any case, this is the very last step that the investment company would have to take, if it wants to get rid of any risk associated with the future of XRP.