Grayscale reportedly dumps massive stakes in XRP, XLM

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The digital asset manager has reduced its holdings of both cryptocurrencies significantly.

Grayscale Investments, the world’s largest digital asset manager, has reportedly dumped a significant portion of its XRP and XLM holdings.

Data from Bybt, a cryptocurrency futures trading platform, reveal that Grayscale’s XRP holdings declined by more than 9.18 million on Dec. 29, bringing its total position to 26.45 million XRP, worth $5.77 million at press time.

On the same day, Grayscale reportedly liquidated over 9.74 million Stellar Lumens, or XLM, bringing its total holdings to 9.19 million XLM, or $1.27 million at today’s prices.

Grayscale’s assets under management currently sit at $19.26 billion, with Bitcoin (BTC) making up 87% of the total.

Grayscale’s apparent firesale of XRP came a week after the U.S. Securities and Exchange Commission, or SEC, filed a lawsuit against Ripple Labs. The news triggered a wave of delistings from major exchanges, including Coinbase and Bittrex, as XRP’s price plunged 60%.

Source and continuation of the article: https://cointelegraph.com/news/grayscale-reportedly-dumps-massive-stakes-in-xrp-xlm