New Crypto Index Fund by Morgan Creek and Bitwise management: XRP overlooked

Recently, a Digital Asset Index Fund has been found by the Bitwise Management and the Morgan Creek Digital assets. The intention behind the creation of this Fund is to see to it that the investors get more convenience as far as cryptocurrency is concerned. It can be believed that this is the right time to enter the market since various strategies can be developed by the investors following the decline in the value of different cryptocurrencies this year. It is being believed that this would make various virtual currencies easily accessible to potential investors. However, it is being noticed that two very important currencies are not listed on this newly found index fund. These two very important currencies are XRP, that is the currency of Ripple and XLM that is Stellar Lumens, a major characteristic that is shared by both of these cryptocurrencies is that both of them are produced when the blockchain comes into being, that is, in the very beginning of Blockchain. Such cryptocurrencies are called pre-mined cryptocurrencies for the reason that they are mined in the earlier phases.

The authorities of the company stated that if there is any company that holds more than 30% of the supply, than it may not be added in the index. That is because this sort of addition would lead to an increase in the risk factor. Decentralization could have helped in these circumstances. This debate about whether or not the centralized nature of Ripple makes it a cryptocurrency or can it not be counted as virtual currency. On the other hand, the good-wishers of Ripple are arguing that Ripple being centralized does not result in it not being counted as a cryptocurrency. There are various diverse opinions about the status of Ripple right now.

Meanwhile, the new venture has come to be called Morgan Creek Digital Index Fund, this fund boasts of strong management as well as effective leadership. This index fund is based on rules and has come about due to the partnership between Morgan Creek and Bitwise management. The prominent role players in the formation of the fund are stating that they believe that this will be the right kind of platform for the “institutional investors”, no matter the arrangement or the categorization of the various securities. However, it is a fact that Ripple is a prominent cryptocurrency at this point in time, therefore, it being overlooked by the new fund has created several headlines in the market.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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