The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Crypto Investment Firm Grayscale Posts Strongest Quarter With Top Returns for Bitcoin and XRP Funds

by Daily Hodl Staff
November 2, 2018
in Altcoins

In a recent interview with CNBC, Michael Sonnenshein, managing director of crypto investment firm Grayscale, revealed that business has been good despite the bear market that’s drained almost $600 billion from the market cap. Not only that, most of their in-flowing money is institutional.

With today’s release of Grayscale’s Q3 report, Sonnenshein says,

“$330 million cumulatively has come into the Grayscale family of products through the end of September, and about 70% of that is coming from institutions in just Q3 alone.”

#Bitcoin is celebrating its 10th anniversary this week. Michael @Sonnenshein, managing director of Grayscale Investments, weighs in on where the cryptocurrency is headed next. pic.twitter.com/e9M0hbT7ak

— CNBC's Fast Money (@CNBCFastMoney) November 1, 2018

According to Sonnenshein, many of his clients are not new to the investment game but have “10+ year-track records of success” and  “deep investment committees and deep convictions, and they’re investing into the space for the medium to long term.”

Grayscale added $81.1 million in Q3 alone, with a weekly average of $4.5 million invested into their Bitcoin product.

BREAKING: We are excited to share our Q3 Digital Asset Investment Report!

YTD Highlights include:
• Capital Raised into Grayscale Products: $329.5M (?? 33% in Q3)
• Majority of investment (59%) is from institutional investors

Read the FULL report ?? https://t.co/yuedrhFzY9 pic.twitter.com/CMvWvbI7Tl

— Grayscale (@GrayscaleInvest) November 1, 2018

According to the report, “This marks the strongest year-to-date inflows through September that we’ve experienced during any calendar year since the inception of our business.”

The report notes that this may mark a trend reversal as their Bitcoin Investment Trust and XRP Investment Trust have produced the first positive quarterly returns for any Grayscale products in 2018. However, Ethereum took the biggest slide at -46%.

Grayscale Q3 2018 Net Total Return (Cumulative %)

+ 12.6% – Bitcoin Investment Trust

-10.8% – Ethereum Classic Investment Trust

-46% – Ethereum Investment Trust

-3.3% – Digital Large Cap Fund

-17.4% – Bitcoin Cash Investment Trust

+21.3% – XRP Investment Trust

-16.4% – Litecoin Investment Trust

-27.7% – Zen Investment Trust

Source: Grayscale Digital Asset Investment Report Q3 2018

Sonnenshein continues,

“I think all of the institutions that we’re dealing with are really using this price pullback as a time to either average down if they’re already in the asset class or using this price decline as a time to really start building a position.”

He explains that while some investors were involved before the 2017 bull run, there are new investors who were excited by the run-up and “are now stepping into the space now that prices are a bit more attractive.”

When asked why their investors are so attracted to Bitcoin over other cryptocurrencies, Sonnenshein explains,

“Bitcoin is really just the asset of the digital currencies that we’re offering products around where investors have the greatest familiarity, the greatest knowledge, and it actually often is where they first deploy capital and then come back into other products.”

Other institutional investors who have recently entered the cryptocurrency market include Wall Street legend Ric Edelman and Yale investment guru David Swensen.

Grayscale now has $1.5 billion total assets under management.

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • Narwhal Finance Secures $1 Million in Seed Funding Led by Animoca Ventures
    March 24, 2023
  • Sports Prediction App Pooky Launches Full Version of Its Play-and-Earn Game
    March 23, 2023
  • StormGain Launches StormGain DEX for User-Friendly Decentralized Crypto Trading
    March 23, 2023
  • KyberSwap Announces First-Ever ARB Token Liquidity Pools, Liquidity Mining and Trading Campaigns on Arbitrum
    March 22, 2023
  • Metacade Presale Hits Final Stage Before Listings, Raising Over $500,000 in Under 24 Hours
    March 22, 2023
  • Yesports Launches the Largest Esports Marketplace for Gaming Expansion Into Web3 Alongside 40+ Partners
    March 21, 2023
  • Metatime Raises $11M in Private Funding To Enhance Web 3.0 Ecosystem
    March 21, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$27,810.45
$27,810.45
0.4%
Ethereum
$1,766.43
$1,766.43
0.32%
Cardano
$0.357419
$0.357419
1.08%
XRP
$0.450094
$0.450094
2.89%
Dogecoin
$0.074671
$0.074671
0.83%

Spotlight

  • Analyst Benjamin Cowen Says Bitcoin (BTC) Is About To Scare Everyone With Big Move – Here’s What He Means
    March 23, 2023
  • Massive Bullish Catalyst for Bitcoin Looming As Accumulation Spikes, Says Galaxy Digital – But There’s a Catch
    March 24, 2023
  • Whales Abruptly Move $195,231,414 in Shiba Inu Rival and Bitcoin From Top Crypto Exchange Amid Market Turbulence
    March 23, 2023
  • Arbitrum (ARB) Daily Transactions Pump to All-Time High as Ethereum (ETH) Scaling Solution Launches Airdrop
    March 24, 2023
NBX Warsaw Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl