• Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
Wednesday, July 9, 2025
  • Login
  • Register
Coin24h.com
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
No Result
View All Result
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
No Result
View All Result
Coin24h.com
No Result
View All Result
Ledger Nano X - The secure hardware wallet
ADVERTISEMENT

Grayscale Crypto Fund Proactively Offloads Stellar XLM Alongside XRP

6 January 2021
in XRP
Reading Time: 2 mins read
A A
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter
cryptotrader
ADVERTISEMENT
Cryptohopper
ADVERTISEMENT


Data shared by the crypto futures trading platform, Bybt shows that Grayscale Investments fund has offloaded massive amounts of its XRP and XLM holdings.

Specifically, the New York-based crypto-fund manager sold 9.18 million units in Ripple’s associated token (worth roughly $2 million) and liquidated $1.2 million worth of Stellar’s token by dumping 9.74 million XLM.

While the move to cut XRP holdings could be justified in light of the SEC’s allegations that XRP is a security, it is not hard to understand why Grayscale has proactively recused its exposure to XLM token to less than $1.27 million.

Stellar is an open-source payment technology that shares several similarities with Ripple. Both coins shared the same protocol initially and were co-founded by the same person, Jed McCaleb. Much like Ripple, Stellar aims to connect financial institutions and reduce the cost and time required for cross-border transfers.

However, Stellar showed a muted reaction to the news. Its native coin XLM climbed to about 13 cents, up 1.9% on the day, according to CoinMarketCap. That gave the digital currency a market value of about $2.9 billion, making it the 14th largest cryptocurrency by market cap.

Suggested articles

5 Popular Debit Cards That Let You Spend CryptoGo to article >>

Despite the news, XRP is up 22% for the day, with trading close to $0.22 at the time of writing. XRP briefly retained its position as the 3rd largest crypto by its market capitalization, behind Bitcoin and Ethereum, but has quickly slid down to the fourth place.

Grayscale reported yesterday a record $19 billion in total crypto assets under management. The new data suggests that institutional investors, dominated by hedge funds, have been scooping up Bitcoin products, despite a historically tumultuous market.

Grayscale’s Bitcoin Trust accounts for the bulk of the investments, with a total inflow of 600,000 BTC worth above $16 billion.

According to Grayscale, the figures show strong and sustained evidence that investors are increasing their digital asset exposure.

Grayscale Investments, a unit of Barry Silbert’s Digital Currency Group, previously filed with the Securities and Exchange Commission to list its Bitcoin Investment Trust as an exchange-traded fund in a $500 million initial public offering. The request was filed in 2017, only to withdraw after the SEC denied the Winklevoss ETF.





Source link

Related articles

21Shares files S-1 application for an XRP ETF

21Shares files S-1 application for an XRP ETF

1 November 2024
Ripple CEO optimistic about crypto post-election, regardless of outcome

Ripple CEO optimistic about crypto post-election, regardless of outcome

24 October 2024
[crypto-donation-box]
Tags: cryptoFundGrayscaleOffloadsProactivelyStellarXLMXRP
Share76Tweet47
Ledger Nano X - The secure hardware wallet
Previous Post

XRP sinks below LTC again after new lawsuit from major investor By Cointelegraph

Next Post

Affirm Aims At $9 Billion Valuation In IPO

Related Posts

21Shares files S-1 application for an XRP ETF

21Shares files S-1 application for an XRP ETF

1 November 2024
0

Asset management company 21Shares has joined the list of firms that have filed applications with the US Securities and Exchange...

Ripple CEO optimistic about crypto post-election, regardless of outcome

Ripple CEO optimistic about crypto post-election, regardless of outcome

24 October 2024
0

Ripple Labs CEO Brad Garlinghouse believes the US will become more crypto-friendly regardless of which political party wins the upcoming...

Ripple’s Brad Garlinghouse joins crypto leaders in backing John Deaton over Elizabeth Warren

Ripple’s Brad Garlinghouse joins crypto leaders in backing John Deaton over Elizabeth Warren

23 October 2024
0

Ripple CEO Brad Garlinghouse has publicly endorsed pro-crypto lawyer John Deaton‘s campaign to unseat Senator Elizabeth Warren and become the...

Ripple commits to company bipartisanship as co-founder Chris Larsen donates  million XRP to Kamala Harris

Ripple commits to company bipartisanship as co-founder Chris Larsen donates $10 million XRP to Kamala Harris

22 October 2024
0

Ripple CEO Brad Garlinghouse has reaffirmed the company’s commitment to a bipartisan approach in supporting pro-crypto politicians ahead of the...

SEC faces Ripple appeal deadline uncertainty, XRP community speculates

SEC faces Ripple appeal deadline uncertainty, XRP community speculates

17 October 2024
0

The United States Securities and Exchange Commission’s (SEC) case against Ripple faces new uncertainty, with the community questioning the deadline...

Load More
Next Post

Affirm Aims At $9 Billion Valuation In IPO

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
RWA, BNB News: Kraken, Backed Expand Tokenized Stocks to BNB Chain – CoinDesk

RWA, BNB News: Kraken, Backed Expand Tokenized Stocks to BNB Chain – CoinDesk

9 July 2025
POL (prev. MATIC) Breaks Out: Is It Time to Go Long?

POL (prev. MATIC) Breaks Out: Is It Time to Go Long?

9 July 2025
XRP News Today: Little Pepe (LILPEPE) Presale Raises .6 Million, Outperforming Solana, Ethereum, XRP – AInvest

XRP News Today: Little Pepe (LILPEPE) Presale Raises $3.6 Million, Outperforming Solana, Ethereum, XRP – AInvest

9 July 2025
Analyst Predicts Bitcoin Price Breakdown — Here’s The Best Time To Buy

Analyst Predicts Bitcoin Price Breakdown — Here’s The Best Time To Buy

9 July 2025

About Us

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Categories

  • Altcoin
  • ApeCoin
  • Bitcoin
  • Blockchain
  • BNB
  • Cardano
  • Cryptocurrency
  • DOGE
  • DOT
  • Ethereum
  • HBAR
  • Litecoin
  • Market
  • Meta News
  • Mining
  • NFT
  • QNT
  • Regulation
  • SHIBA
  • Solano
  • Tether
  • Uncategorized
  • XDC
  • XLM
  • XRP

What’s New Here!

  • RWA, BNB News: Kraken, Backed Expand Tokenized Stocks to BNB Chain – CoinDesk
  • POL (prev. MATIC) Breaks Out: Is It Time to Go Long?
  • XRP News Today: Little Pepe (LILPEPE) Presale Raises $3.6 Million, Outperforming Solana, Ethereum, XRP – AInvest
  • Analyst Predicts Bitcoin Price Breakdown — Here’s The Best Time To Buy
  • Whales Scoop Up 200,000 ETH

Subscribe Now

Our Partner

Round Main Logo
  • About Us
  • Privacy Policy
  • Contact Us

© 2022-2025 coin24h.com

No Result
View All Result
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining

© 2020 coin24h.com

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin (BTC) $ 109,468.00
  • ethereumEthereum (ETH) $ 2,657.18
  • tetherTether (USDT) $ 1.00
  • xrpXRP (XRP) $ 2.39
  • bnbBNB (BNB) $ 662.10
  • solanaSolana (SOL) $ 154.29
  • usd-coinUSDC (USDC) $ 0.999899
  • tronTRON (TRX) $ 0.287567
  • dogecoinDogecoin (DOGE) $ 0.174478
  • staked-etherLido Staked Ether (STETH) $ 2,657.08
  • cardanoCardano (ADA) $ 0.614126
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 109,375.00
  • hyperliquidHyperliquid (HYPE) $ 39.47
  • wrapped-stethWrapped stETH (WSTETH) $ 3,202.20
  • suiSui (SUI) $ 2.96
  • bitcoin-cashBitcoin Cash (BCH) $ 508.45
  • chainlinkChainlink (LINK) $ 14.11
  • stellarStellar (XLM) $ 0.283079
  • leo-tokenLEO Token (LEO) $ 9.01
  • avalanche-2Avalanche (AVAX) $ 18.68
  • usdsUSDS (USDS) $ 0.999764
  • hedera-hashgraphHedera (HBAR) $ 0.170716
  • wrapped-eethWrapped eETH (WEETH) $ 2,844.91
  • shiba-inuShiba Inu (SHIB) $ 0.000012
  • the-open-networkToncoin (TON) $ 2.83
  • wethWETH (WETH) $ 2,655.02
  • litecoinLitecoin (LTC) $ 88.72
  • whitebitWhiteBIT Coin (WBT) $ 45.17
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • moneroMonero (XMR) $ 320.78
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 109,359.00
  • polkadotPolkadot (DOT) $ 3.54
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • bitget-tokenBitget Token (BGB) $ 4.36
  • uniswapUniswap (UNI) $ 8.17
  • aaveAave (AAVE) $ 301.28
  • pepePepe (PEPE) $ 0.000010
  • daiDai (DAI) $ 0.999965
  • pi-networkPi Network (PI) $ 0.466203
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
  • bittensorBittensor (TAO) $ 329.13
  • crypto-com-chainCronos (CRO) $ 0.094687
  • aptosAptos (APT) $ 4.57
  • okbOKB (OKB) $ 48.50
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • nearNEAR Protocol (NEAR) $ 2.29
  • jito-staked-solJito Staked SOL (JITOSOL) $ 187.53
  • internet-computerInternet Computer (ICP) $ 4.97
  • ethereum-classicEthereum Classic (ETC) $ 17.28
  • ondo-financeOndo (ONDO) $ 0.819041