Grayscale CEO joins other crypto bulls: Bitcoin, Litecoin and Bitcoin Cash investments increased
- Grayscale’s Bitcoin investment received an increase from 66.8% to 68.3% while Bitcoin Cash went up to 2.9% from 2.8%.
- Barry Silbert believes money in gold will end up in Bitcoin.
Grayscale Investments has announced a structure change of its Digital Large Fund (DLC). The service which gives investors in the industry easy access to leading cryptocurrency. The fund is made of the five major cryptos in terms of market capitalization including Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin.
In the latest composition change has seen Litecoin increased from 1.8% of the total fund to 3.3%. This represents an 83.33% increase and is the biggest increase among all the altcoins held by the firm. Bitcoin investment received an increase from 66.8% to 68.3% while Bitcoin Cash went up to 2.9% from 2.8%.
Grayscale makes the changes in DLC quarterly. The changes effected vary from adding or removing an asset as per the fund criteria set by the company. Assets that have been reduced in the recent rebalancing are Ripple from 14.7% to 11.9% and Ethereum from 13.9% to 13.6%.
The CEO and founder of Digital Currency Group and Grayscale Investments Barry Silbert told CNBC in an interview that he is “as bullish as he has ever been” on Bitcoin:
“I’m convinced that whatever money is in gold is not going to stay in gold. That gets handed down to millennials – I’m highly confident a lot of that will go into Bitcoin.”
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
