NEW MORGAN CREEK INDEX EXCLUDES ‘PRE-MINED’ TOKENS LIKE XRP – BUT NOT ETHEREUM

August 29, 2018

 

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.

 

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 $0.22961 -0.68% and in future NEO $20.3202 -1.52% and EOS $5.81314 -0.39%.

“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.

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