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Morgan Creek Capital Management, the investment house with $ 1.5 billion of assets under its wing, has refused to include Ripple in its new rule-based index fund.
"A lot of additional risks"
As Forbes reports the launch day of the Digital Asset Index Fund on August 28th, Morgan Creek has decided to exclude any cryptocurrency with more than 30% of premiums .
Currently including eight cryptocurrencies to which institutional investors and other parties can now gain exposure, the fund will in any case exclude altcoins like Stellar 0 0 and in the future NEO 0 [19659006] 0 and EOS 0 0 .
"If there is a central party that owns 30% or more of the offer, we hold those from the index", Morgan Creek Digital partner Anthony Pompliano told the publication.
Because we think it introduces a lot of additional risk that there might not be if it were a more decentralized network.
BREAKING: Ripple not included: the new indexed Morgan Creek fund excludes pre-mined cryptocurrencies: https: // t.co/7KO9vFJ3p2 via @ForbesCrypto pic.twitter.com/MuXefKYV54
– Michael del Castillo (@DelRayMan) 28 August 2018
Ripple Battles Multiple Critics
The news continues a problematic trend for Ripple and its accompanying XRP token 0 0 [19659012]. As Bitcoinist reported last week, the controversy continues to revolve around both entities after the comments renewed by the information manager David Schwartz, in which he defined the "more decentralized" Ripple network than Bitcoin and Ethereum.
Previously, Schwartz had said that Ripple was not a "distributed ledger".
In addition, for the inclusion of an asset in the fund, are "custody qualifications, trade concentration limits and technical ability to be guaranteed off-line" Forbes adds, without revealing if Ripple has not satisfied other criteria.
Hunter Horsley, co-founder of Bitwise Asset Management, who will manage the fund, meanwhile continued the narrative premise.
"Decentralization is a cornerstone of Most blockchain design, with a large portion of centrally held assets, is in contrast to that and could create complexities that differ from those we would expect from public blockchain," he added .
"This is not sure, it's just a potential risk."
What do you think of Morgan Creek excluding Ripple and Stellar? Let us know in the comments below!
Images courtesy of Shutterstock
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