{"id":33893,"date":"2020-12-23T19:16:40","date_gmt":"2020-12-23T17:16:40","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=33893"},"modified":"2025-08-28T16:06:59","modified_gmt":"2025-08-28T13:06:59","slug":"bitwise-excludes-xrp-from-its-bitwise-10-crypto-index-fund","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitwise-excludes-xrp-from-its-bitwise-10-crypto-index-fund\/","title":{"rendered":"Bitwise Excludes XRP from Its Bitwise 10 Crypto Index Fund"},"content":{"rendered":"<p>Bitwise Asset Management <a href=\"https:\/\/www.bitwiseinvestments.com\/resources\/press-releases\/bitwise-10-crypto-index-fund-otcqx-bitw-has-liquidated-its-position-in-xrp\">said<\/a> that it was excluding XRP from its flagship index fund, Bitwise 10 Crypto Index Fund.<!--more--><\/p>\n<p>The decision was taken in light of the lawsuit the U.S. Securities and Exchange Commission (SEC) filed against Ripple.<\/p>\n<blockquote>\n<p>&#8220;Bitwise 10 Crypto Index Fund does not invest in assets that are, to a certain degree of probability, considered securities under federal law. The decision to liquidate the XRP position was based on new information that became known as a result of the SEC lawsuit,&#8221; the company said.<\/p>\n<\/blockquote>\n<p>Prior to the sale on December 22, XRP accounted for about 3.8% of the fund. The proceeds were invested by Bitwise in other assets represented in the portfolio.<\/p>\n<p>In early December Bitwise Asset Management <a href=\"https:\/\/u1f987.com\/en\/news\/bitwise-opens-access-to-bitwise-10-crypto-index-fund-on-the-us-otc-market\">conducted<\/a> the listing of Bitwise 10 Crypto on the OTCQX over-the-counter market. Before that day, the index was 75% Bitcoin and 13% Ethereum. The remaining 12% were allocated among XRP, Litecoin, Chainlink, Tezos and several other cryptocurrencies.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"R195zBN3EM\">\n<p>&#8220;The premium of the Bitwise crypto fund&#8217;s shares relative to cryptocurrencies reached 660%&#8221;<\/p>\n<\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u00ab\u041f\u0440\u0435\u043c\u0438\u044f \u0432 \u0430\u043a\u0446\u0438\u044f\u0445 \u043a\u0440\u0438\u043f\u0442\u043e\u0444\u043e\u043d\u0434\u0430 Bitwise \u043e\u0442\u043d\u043e\u0441\u0438\u0442\u0435\u043b\u044c\u043d\u043e \u043a\u0440\u0438\u043f\u0442\u043e\u0432\u0430\u043b\u044e\u0442 \u0434\u043e\u0441\u0442\u0438\u0433\u043b\u0430 660%\u00bb \u2014 ForkLog\" src=\"https:\/\/u1f987.com\/news\/premiya-v-aktsiyah-kriptofonda-bitwise-otnositelno-kriptovalyut-dostigla-660\/embed#?secret=zPLzdvsu1D#?secret=R195zBN3EM\" data-secret=\"R195zBN3EM\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>In its lawsuit, <a href=\"https:\/\/u1f987.com\/en\/news\/sec-files-suit-against-ripple\">the SEC contends<\/a> that Ripple, over seven years, sold unregistered securities in the form of XRP tokens to retail investors and attracted $1.3 billion in that time. The defendants also include CEO Brad Garlinghouse and co-founder Chris Larsen, whom the agency calls &#8220;major holders of the security.&#8221; According to the filing, the two together sold $600 million worth of tokens.<\/p>\n<p>Brad Garlinghouse <a href=\"https:\/\/u1f987.com\/en\/news\/brad-garlinghouse-sec-suit-against-ripple-a-dangerous-precedent-for-the-crypto-industry\">criticised the SEC&#8217;s decision<\/a>, describing the actions of the U.S. regulator as &#8220;a terrible precedent for the entire industry and any company dealing with digital assets.&#8221; In his words, Ripple has always worked in partnership with regulators and has stressed that the United States lacks a clear regulatory framework for the cryptocurrency industry.<\/p>\n<p>After news of the Ripple lawsuit became known, XRP trading on regulated venues OSL Digital, CrossTower and Beaxy Exchange was halted.<\/p>\n<p>Additionally, the decentralized derivatives platform Synthetix warned users that they cannot yet purchase iXRP tokens.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">It will need to be redeployed with new limits by the protocolDAO, we will announce when this is done.<\/p>\n<p>\u2014 Synthetix \u2694\ufe0f (@synthetix_io) <a href=\"https:\/\/twitter.com\/synthetix_io\/status\/1341712379826991106?ref_src=twsrc%5Etfw\">December 23, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p>&#8220;iXRP has hit the cap and has been frozen. It will need to be relaunched with new limits via the protocolDAO. We will announce when this happens,&#8221; Synthetix said.<\/p>\n<\/blockquote>\n<p>Over the past 24 hours, XRP&#8217;s price has fallen by about 35%. At the time of writing the token was trading around $0.31.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forkloglive\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog FEED<\/a> \u2014 the full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitwise Asset Management said it was excluding XRP from its flagship Bitwise 10 Crypto Index Fund.<\/p>\n","protected":false},"author":1,"featured_media":33894,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[949,112,128],"class_list":["post-33893","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitwise","tag-ripple","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33893","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=33893"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33893\/revisions"}],"predecessor-version":[{"id":33895,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33893\/revisions\/33895"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/33894"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=33893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=33893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=33893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}