- 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.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.