Grayscale ’s Digital Large Cap Fund recently announced that it has liquidated its holdings in Cardano (ADA) in order to increase its XRP holdings. According to reports, the fund now holds 16.7 million XRP tokens, which accounts for 30.6% of its total portfolio. This move comes as a surprise to many, as XRP has been facing scrutiny from regulators and facing legal battles with the SEC in the US.
The decision to increase XRP holdings seems to be driven by Grayscale’s bullish outlook on the token. With the recent rally in the cryptocurrency market, XRP has also been showing signs of recovery, which could lead to further price surges. Grayscale’s move to focus on XRP could attract more investors to the token and drive up its price even further.
It is worth noting that Grayscale’s Digital Large Cap Fund invests in a variety of cryptocurrencies, with Bitcoin (BTC) and Ethereum (ETH) being the largest holdings. However, the recent decision to liquidate Cardano in favor of XRP shows that the fund is willing to make strategic shifts in its portfolio in order to maximize returns.
Overall, Grayscale’s move to increase XRP holdings could be a positive sign for the token, as it indicates growing interest from institutional investors. With XRP’s price expected to surge soon, it will be interesting to see how this move impacts the cryptocurrency market as a whole.
コメント