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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