Grayscale Investments has rebalanced the Digital Large-Cap Fund, which includes cryptocurrencies with a large market capitalization. The shares of BTC and ETH are increased by XRP, BCH and LTC.
On Twitter, the investment company reported that the share of bitcoin in the Fund has increased by 0.5% and now stands at 81.5%. The share of ether has been increased by 2.1% and now it occupies 11.7% of the Fund. The shares of XRP, BCH and LTC declined by 1.4%, 0.8% and 0.6%, respectively. Now they occupy 3.6%, 2% and 1.2% of the Fund, respectively.
Rebalancing of the Fund takes place quarterly and is based on changes in the share of cryptocurrencies in the market. At the same time, of the cryptocurrencies represented in the Fund, only Ethereum increased its dominance from 8.17% to 9.8%. For other coins, the indicator decreased, including bitcoin — from 65.78% to 62.46%, but this did not prevent the company from increasing the share of BTC by 0.5%.
The capitalization of the Digital Large-Cap Fund is relatively small — only $33 million. By comparison, Grayscale’s oldest bitcoin trust (GBTC) is worth $3.55 billion. The Ethereum trust, in which $410 million was invested, is also quite popular. The total amount of assets in cryptocurrencies managed by Grayscale Investments is $4.1 billion.
At the end of June, analyst Kevin Rooke calculated that the company buys three times more bitcoins than it produces. At that time, during the week, Grayscale bought 19,879 BTC, while the total number of bitcoins produced was only 7,081 BTC.