New numbers from Grayscale Investments reveal which cryptocurrencies are attracting institutional investors.
According to Grayscale, 12.5% of investors are now choosing XRP in the company’s Digital Large Cap fund, up from 9.9% in the company’s last quarterly review.
Ethereum, Bitcoin Cash and Litecoin recorded decreased interest over the last few months while Bitcoin increased its dominance along with XRP.
Grayscale’s Digital Large Cap Fund
Asset Weight June 30 to September 30, 2018
Bitcoin (BTC) – 57.6% to 66.8%
Ethereum (ETH) – 23.6% to 13.1%
Ripple (XRP) – 9.9% to 12.5%
Bitcoin Cash (BCH) – 6.5% to 5.5%
Litecoin (LTC) – 2.4% to 2.1%
Source: Grayscale
Despite the increase in BTC dominance, Bloomberg reports that Grayscale Bitcoin Investment Trust (GBTC) has hit a net asset value low since mid-December last year when Bitcoin was trading for nearly $20,000. Shares of GBTC are down around 80%.
The New York-based investment firm released a report in July showing that 56% of investments in the first half of 2018 came from institutional investors.
Grayscale maintains a series of cryptocurrency investment trusts, including the Bitcoin Investment Trust, Bitcoin Cash Investment Trust, Ethereum Investment Trust, Ethereum Classic Investment Trust, Litecoin Investment Trust, XRP Investment Trust and Zcash Investment Trust, and the Grayscale Digital Large Cap Fund. The firm manages $1.6 billion in assets.
[the_ad id="42537"] [the_ad id="42536"]
