Grayscale Investments released information on the structure change of its Digital Large Cap Fund (DLC). The fund gives qualified investors an easy access to the top 5 leading cryptocurrency in terms of market capitalization. – Bitcoin, Ethereum, XRP, Bitcoin Cash and Litecoin.
According to the tweet, the latest change in composition has seen Litecoin increased from 1.8% of the total fund to 3.3%, which is an 83.33% increment. Grayscale’s biggest exposure to an Altcoin is LTC. The fund also increased its Bitcoin allocation from 66.8% to 68.3%, and Bitcoin Cash from 2.8% to 2.9%.
Grayscale rebalances the DLC quarterly as per the fund criteria set by the company. Assets that have been reduced in the recent rebalancing are XRP 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.”
Digital Currency Group, owner of the investment firm, does the world’s largest crypto assets management with over $1.1 billion is assets, $1.06 billion allocated in its Bitcoin Trust and $11 million in its DLC.