Crypto money manager Bitwise has liquidated $9.3 million worth of XRP in its crypto index fund.
“Prior to the sale of the asset on December 22, 2020, XRP was approximately 3.8% of the Fund,” the firm wrote. “The Fund liquidated its position and reinvested the proceeds in other portfolio assets.”
“The Bitwise 10 Crypto Index Fund does not invest in assets that are reasonably likely to be deemed securities under federal or state securities laws,” the company wrote. “Bitwise’s decision to liquidate its position in XRP was based on consideration of new public information from the SEC’s complaint.”