Grayscale Q1 Report: Bitcoin Dominance Increases By 1.5%, XRP Share Cuts Down Exclusively By 2.7%
Grayscale Q1 Report: Bitcoin Dominance Increased By 1.5% While XRP Share Cuts Down Exclusively By 2.7%
Grayscale, the digital asset manager’s Q1 report reveals the highest increase in the weight of Bitcoin (BTC) followed by Litecoin (LTC) in contrast with the sole deduction of the biggest percentage in the XRP share.
The report for the first quarter of 2019 for the Digital Large Cap Fund (DLC) has been shared by Grayscale on Friday via Twitter. DLC is a passive, rules-based strategy that provides exposure to the large market cap digital currencies.
Following the DLC’s quarterly review for March 31st, 2019, no new assets have been qualified for inclusion. However, during the period of these last 3 months, there has been a change in the weightings of its assets that include Bitcoin, Ethereum, XRP, Bitcoin Cash, and Litecoin.
Bitcoin Accounts For Highest Share At 68%
Bitcoin holds the highest weight in the composition of the Digital Large Fund that was further increased by 1.5 percent from 66.8 percent on December 31st, 2018 to 68.3 percent on March 31st, 2019.
Just recently, Grayscale shared on Twitter that its digital assets under management reached the milestone of $1.1 billion. This record was made after this week’s rally saw the leading cryptocurrency surging past $5k while altcoins registered significant gains as well.
“Grayscale’s assets under management grew to over $1 billion today,” noted Grayscale CEO and Bitcoin investor, Barry Silbert.
Back in December, research firm Diar suggested that Grayscale has quietly accumulated more than 1 percent of Bitcoin’s circulating supply. Despite a slight drop-off in investment in the Q4 of last year, the company posted record inflows last year.
LTC Preferable Over XRP
The second largest cryptocurrency by market cap Ethereum saw a small change of 0.6 percent in its weight as it went from 13.9 to 13.6.
Just like Bitcoin, Litecoin also saw an increase of 1.5 percent in its weight of 1.8 to 3.3 that now gives it more weight in the entire fund than Bitcoin Cash which saw an increment of only 0.1 percent to 2.9 percent.
While every digital asset saw an increase, slight as they may be, XRP has been the only asset that saw a cut of the highest percentage of 2.8. From 14.7 on December 31, the weight of XRP slides down to 11.9 percent on March 31st.