Bitcoin falls to $19,000 – Grayscale cuts 5 crypto coins

The bitcoin price fell 2.42% to $19,511.51 on the morning of July 13.

Bitcoin slipped into negative territory this morning after the Dow Jones Industrial Average fell 192 points on Tuesday (July 12).

  • The Dow Jones Industrial Average fell 192.51 points, or 0.62%, to close at 30,981.33.
  • The S&P 500 was down 35.63 points, or 0.92%, to close at 3,818.80 points.
  • The Nasdaq fell 107.87 points, or 0.95%, to close at 11,264.73.

Grayscale, the world’s largest cryptocurrency asset manager, has removed five cryptocurrencies from its Digital Large Cap fund to rebalance following the fund’s AUM decline. They are also poised to file bitcoin ETF issues with the U.S. Securities and Exchange Commission (SEC) for legal registration

Grayscale published its Q2 2022 holding and revealed that it has removed some of its tokens from its portfolio.

Large Cap Select Index has removed Bitcoin Cash, Chainlink, Litecoin, Polkadot, and Uniswap. It has also sold some of the tokens from the pool.

These changes have occurred over time. Grayscale has seen a sharp decline in the total value of its portfolio securities (AUM) over the past year.

The company focuses on bitcoin investments and is launching a bitcoin exchange-traded fund (BTC) in the United States, which is currently under review. However, the U.S. exchange delayed the review and rejected Grayscale’s latest application until it finally found itself in the process.

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