The recent recovery of the cryptocurrency market has led to some unique trading patterns in most of the competitive currencies, although their movements are still largely influenced by Bitcoin.
The unique nature of recent trading activity has led a large crypto fund to divert its investment to a variety of mainstream cryptocurrency assets, which may indicate the fund's position in 2019.
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Gray Asset Investment, a digital asset investment company, announced on Twitter that they had adjusted their cryptocurrency positions in the “Digital Market Capitalization Fund” (DLC) at the end of March, reducing the positions of Ethereum and Ripple (XRP) and increasing Holds Litecoin (LTC), Bitcoin Cash (BCH) and Bitcoin.
Grayscale said that the decision to change the DLC position is effective after the quarterly review, and it hopes to adjust its portfolio, balance positions, and always adhere to the fund's strategy of providing high market capitalization of digital asset exposure.
In addition, Grayscale also provides relevant statistics to illustrate the strength of investment adjustments. They increased the fund's exposure to bitcoin from 66.8% to 68.3%, BCH from 2.8% to 2.9%, and LTC's position from 1.8% to 3.3%.
In order to increase the positions of the above three cryptocurrencies, Grayscale reduced the number of XRPs it held – from 14.7% to 11.9%. Ethereum positions have also decreased, from 13.9% to 13.6%.
Importantly, they also added a key message that after the quarterly review, no new encrypted assets qualify for membership in the fund.
No new assets met the entry criteria after the DLC quarterly review. The table below shows the changes in DLC positions from December 31, 2018 to March 31, 2019.
The fund has made a substantial adjustment to the cryptocurrency position, which may be affected by the recent price movements in the cryptocurrency market. All major digital assets have experienced different increases.
In the past month, Bitcoin has soared from a low of about $3,800 to a high of $5,300. This sharp rise has led to an increase in other assets held by DLC funds. BCH rose from a low of $128 a month to a high of $340, and LTC rose from a low of $50 to a low of just under $100. .
XRP and Ethereum are slightly behind other mainstream currencies in the uptrend. Ethereum has only risen to $180 from a low of $130 a month, and XRP has dropped from a low of about $0.3 to $0.37.
In Grayscale's view, Ethereum and XRP may continue to lag behind other major competitors, which may be one of the reasons they adjust their positions.