New numbers from crypto investment firm Grayscale show declines for every one of their single-asset products – except XRP.
Grayscale is the largest crypto asset manager in the world, and the numbers that it shows lately are quite favorable for Ripple’s digital asset.
Statistics are showing declines for all other asset products expect for XRP.
Grayscale is offering exposure to eight major cryptos via separate securitized products that charge a management fee.
These funds are “quasi-ETFs,” and they allow investors to bet on the price action of the underlying assets.
Besides the market price of the cryptos, their popularity can as well affect their price, and we all know that XRP excels in this regard.
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.
Rise of Grayscale
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%).