Grayscale Increases Bitcoin’s Share While ETH, XRP, BCH, & LTC All Get A Cut
Grayscale Investments has released the updated weightings for its Grayscale Large Cap Fund for the period of June 30, 2019, to September 30, 2019, that reveals that Bitcoin’s share has risen even further.
Following its quarterly review, Grayscale shared that while the leading cryptocurrency’s share has increased, while the other four other crypto's share has taken a cut.
1/ Following the Quarterly Review (9/30/19), we are pleased to announce the updated weightings for Grayscale Digital Large Cap Fund (“DLC Fund”)
— Grayscale (@GrayscaleInvest) October 7, 2019
With an increase of 3.7 percent, Bitcoin now weights at 80.3 percent, from 76.6 percent previously, in Grayscale’s Digital Large Cap Fund.
Ethereum’s share in its fund has fallen below 10 percent, seeing a cut of 1.7 percent — the highest reduction — as it falls from 11.6 percent to 9.9 percent.
While Bitcoin Cash saw a cut of 0.6 percent, the same as XRP, and now stands at 2.2 percent, Litecoin’s reduced by 0.8 percent and currently is at 1.8 percent.
DLC Fund is a “passive, rules-based strategy” that provides exposure to large cap segment of the digital asset class.
The latest change in weightings means the “qualified accredited investor” gets even more exposure to Bitcoin by investing in Grayscale’s Large Cap Fund (DLC Fund).
By accredited investor here, it means anyone who either earned income exceeding $200,000 (or $300,000 together with a spouse) in each of the prior two years or has a net worth over $1 million.