New Morgan Creek Index Excludes ‘Pre-Mined’ Tokens Like XRP – But Not Ethereum
HomeCryptocurrency NewsBitcoinist.com

New Morgan Creek Index Excludes ‘Pre-Mined’ Tokens Like XRP – But Not Ethereum

Morgan Creek Capital Management, the investment house with $1.5 billion of assets under its wing, has refused to include Ripple in its new ...

Bitbank and BitFlyer CEOs Abandon Their VP Positions at Japan’s Cryptocurrency Self-Regulatory Body
3 Reasons to Include Cryptocurrencies in Your Retirement Portfolio
Yes, Your Bitcoin Transactions Can Be Tracked – and Here Are the Companies That Are Doing It

Morgan Creek Capital Management, the investment house with $1.5 billion of assets under its wing, has refused to include Ripple in its new rules-based index fund.


‘A Lot Of Additional Risk’

As Forbes reports on the launch day of Digital Asset Index Fund August 28, Morgan Creek has opted to exclude any cryptocurrency with more than a 30 percent premine.

Currently including eight cryptocurrencies to which institutional investors and other parties can now gain exposure, the fund will nonetheless also exclude altcoins such as Stellar 00 and in future NEO 00 and EOS 00.

“If there’s a central party that owns 30% or more of supply then we withhold those from the index,” Morgan Creek Digital partner Anthony Pompliano told the publication.

Because we think that introduces a lot of additional risk that may not be there if it was a more decentralized network.

Ripple Battles Multiple Critics

The news continues a problematic trend for Ripple and its accompanying XRP token00. As Bitcoinist reported last week, controversy continues to swirl around both entities after renewed comments from chief information officer David Schwartz, in which he called Ripple’s network “more decentralized” than both Bitcoin and Ethereum.

Previously, Schwartz had said Ripple was not a “distributed ledger.”

Also necessary for an asset’s inclusion in the fund meanwhile are “custody qualifications, trade concentration limits and the technical ability to be secured off-line,” Forbes adds, without revealing whether Ripple failed to meet any other criteria.

Hunter Horsley, co-founder of Bitwise Asset Management, which will manage the fund, meanwhile continued the premine narrative.

“With decentralization being a cornerstone of most blockchain designs, having a large portion of assets held centrally runs counter to that and could create complexities that differ from what we would expect from public blockchains,” he added.

“That’s not for sure, it’s just a potential risk.”

What do you think about Morgan Creek excluding Ripple and Stellar? Let us know in the comments below!


Images courtesy of Shutterstock

The post New Morgan Creek Index Excludes ‘Pre-Mined’ Tokens Like XRP – But Not Ethereum appeared first on Bitcoinist.com.



from Bitcoinist.com https://ift.tt/2wnmmCG
Name

Bitcoin News,5117,Bitcoinist.com,4741,Cryptocurrencies,4741,Cryptocurrencies Latest News,5117,Cryptocurrency Latest News,4741,Cryptocurrency News,9858,
ltr
item
Cryptocurrency Latest News: New Morgan Creek Index Excludes ‘Pre-Mined’ Tokens Like XRP – But Not Ethereum
New Morgan Creek Index Excludes ‘Pre-Mined’ Tokens Like XRP – But Not Ethereum
https://bitcoinist.com/wp-content/uploads/2018/08/shutterstock_479795197-640x400.jpg
Cryptocurrency Latest News
http://cryptocurrencylatest.blogspot.com/2018/08/new-morgan-creek-index-excludes-pre.html
http://cryptocurrencylatest.blogspot.com/
http://cryptocurrencylatest.blogspot.com/
http://cryptocurrencylatest.blogspot.com/2018/08/new-morgan-creek-index-excludes-pre.html
true
1236144943044321696
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy