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The Daily Hodl
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The Ripple Effect: World’s Largest Crypto Asset Manager Says XRP Is the Only Rising Investment Trust in Market Slump

by Daily Hodl Staff
November 20, 2018
in Altcoins

New numbers from crypto investment firm Grayscale show declines for every one of their single-asset products – except XRP.

The company offers exposure to eight cryptocurrencies through separate securitized products that charge a management fee. These funds, known as quasi-ETFs, allow investors to bet on the price action of the underlying assets. In addition to the market price of the asset, a product’s popularity can also affect its price.

Grayscale’s XRP Investment Trust rose 3.2% from November 16th through the 19th. Meanwhile, Bitcoin Cash posted a -24% decline. Double-digit declines were also reported for their Ethereum, Ethereum Classic, Litecoin and Zen (formerly Zencash) investment trusts.

The New York-based firm released a report in July detailing capital distribution among its core products. It showed that in the first half of 2018, 56% of investments came from institutions with large amounts of capital.

The report revealed that after institutional investors, the firm’s largest group of investors are accredited individuals (20%), retirement accounts (16%) and family offices (8%).

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