Saturday, September 26, 2020
No menu items!
  • News
  • Cryptocurrency
  • XRP News
  • Contact Us
More

    Why XRP and Stellar (XLM) are Not Included in Morgan Creek’s Digital Asset Fund Explained

    Must Read

    VeChain Integrates Coinbase’s Rosetta to Simplify Blockchain Interoperability

    A few hours ago, VeChain Foundation announced the integration of Rosetta, the Coinbase’s toolkit designed to simplify blockchain development...

    Veteran Investor Who Bought 1 Million BTC in 2013 Reveals Strategy for Success in Investing

    The chairman of Virgin Galactic, Chamath Palihapitiya, who purchased one million Bitcoin (BTC) in 2013, has revealed his investment...

    Crypto Whales Moved $319 Million in BTC, ETH, and XRP As Market Recovers

    According to recent data, crypto whales are moving millions of dollars in Bitcoin (BTC), Ethereum (ETH), and Ripple’s digital...
    Avatar
    Solomon Odunayo
    Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.




    The founder of Morgan Creek Capital Management, Mark Yusko, has explained why XRP is not included in the Morgan Creek’s Digital Fund, during a conversation with Thinking Crypto.

    In the interview, Mark Yusko mentioned that their digital asset index fund excludes Ripple’s digital token XRP and Stellar (XLM) because these two assets are closely held.

    He said, “We exclude anything that is too closely held. So, we don’t own Stellar, we don’t own XRP.”

    He furthered that his hedge fund holds neither Stellar nor XRP because of the influence of the companies he termed as centralized, holding a larger portion of the digital assets.

    Mark Yusko stressed further that XRP and Stellar Lumens (XLM) are not freely tradable as Bitcoin (BTC) or Ethereum (ETH).

    However, Yusko is still sure that Morgan Creek would subsequently add XRP once Ripple changes the distribution model of the digital token.

    He said, “I still struggle with the XRP/Ripple structure, or how cash flows are created or shared, but that’s a topic for another day. Yes, there is a point at which, if they had enough distribution of XRP, it could qualify for the index.”

    Meanwhile, Ripple’s digital token XRP and Stellar (XLM) have often been criticized due to a presumed centralization governing the digital assets. It’s also believed that the two digital tokens have the highest level of wealth inequality among the top digital currencies.

    About Morgan Creek’s Digital Asset Index Fund

    Mark Yusko furthered that the Digital Asset Index Fund that was launched about 2 years ago by Morgan Creek Capital in collaboration with Bitwise, is working to become the S&P 500 of the cryptocurrency industry.

    He said, “The reason we set up the Digital Asset Index Fund the way we did is we want to be the S&P 500 of crypto.”

    The Digital Asset Index Fund was founded to allow institutional investors to delve into cryptocurrency. Presently, the index fund offers exposure to 10 cryptocurrencies, including the largest digital currency by market capitalization, Bitcoin (BTC).




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    VeChain Integrates Coinbase’s Rosetta to Simplify Blockchain Interoperability

    A few hours ago, VeChain Foundation announced the integration of Rosetta, the Coinbase’s toolkit designed to simplify blockchain development...

    Veteran Investor Who Bought 1 Million BTC in 2013 Reveals Strategy for Success in Investing

    The chairman of Virgin Galactic, Chamath Palihapitiya, who purchased one million Bitcoin (BTC) in 2013, has revealed his investment strategy for spotting the next...

    Crypto Whales Moved $319 Million in BTC, ETH, and XRP As Market Recovers

    According to recent data, crypto whales are moving millions of dollars in Bitcoin (BTC), Ethereum (ETH), and Ripple’s digital token XRP, as the cryptocurrency...

    Cambridge Study: 100M People Worldwide Now Hold Bitcoin and Other Crypto-Related Assets

    As a notable indication that cryptocurrency is going worldwide, the research conducted by the Cambridge Centre for Alternative Finance shows that 100 million people...

    XRP Ledger Foundation Officially Launched

    According to a latest information, XRP Ledger Foundation has been launched officially. This update was shared via the official Twitter handle of the newly launched...

    More Articles Like This