On January 4, 2024, grayscale Investment 
Bill Morgan, lawyer and crypto enthusiast, took pleasure in Grayscale’s decision to incorporate XRP and Avalanche (AVAX) in its Digital Large Cap Fund. This announcement comes from Grayscale’s Form 8-K filed with the Securities and Exchange Commission on January 4, 2024, Grayscale Investments made its filing.
The filing describes Grayscale’s quarterly review and portfolio rebalancing of its Digital Large Cap Fund. Grayscale strategically added AVAX and XRP, while selling off MATIC demonstrating the firm’s adjustment of its holdings based on market dynamics.
Morgan pointed out that the decision in Torres provided legal clarity regarding XRP’s standing and how it could be used, especially following the dissolution of the 2021 trust owing to an ongoing lawsuit.
Morgan’s tweet also mentioned the CNBC “crypto watch” feature, which was sponsored by Grayscale and featured prices of cryptocurrencies like Bitcoin, Ethereum as well XRP. The legal transparency reached by XRP thanks to the Torres case probably played a critical part in Grayscale’s decision to reintegrate it into its portfolio, which was an important move away from positioning on XRP trust liquidation back in 2021.
Also Read: Ripple Prediction 2024 : What’s In Store For XRP Price Amidst IPO Rumor
As of January 4, 2024, Grayscale’s rebalancing, as per the CoinDesk Large Cap Select Index (DLCS), is a portfolio consisting of 69.15% BTC, 21.90% ETH, 3.65% SOL, 2.54% XRP, 1.62% ADA, and 1.14% AVAX as of January 4, 2024.
Grayscale’s choice to add XRP and AVAX into its Digital Large Cap Fund alongside the upcoming application for Bitcoin ETF points towards market reactiveness as well as characterizes it with anticipation of regulator decisions.
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