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Laxman Pai, Opalesque Asia: Institutional investors have made up the majority of digital currency investment company Grayscale Investments in the last three months. The crypto investment firm owned by Digital Currency Group said in a press release that 70% new money came from institutional investors in Q3/2018.
"Institutional investors remain engaged with Grayscale products, legging into their digital asset allocations over time. Institutional investors' share of new investment increased to 70% in Q3, though the dollar-value invested was lower than in the two previous quarters," said the release.
New York-based Grayscale Investments said that the firm has raised around $330m so far in 2018. Grayscale had raised $25.4m at this time in 2017.
This shows that cryptocurrency investments are still going strong, despite market downturns for virtual currencies in 2018, said the company.
"Capital inflows continue across the entire Grayscale family of products, but Bitcoin is still king. In Q3, 73% of inflows were into Bitcoin Investment Trust, while 27% were into Grayscale products tied to other digital assets," Grayscale said.
Bitcoin Investment Trust and XRP Investment Trust are bucking the trend on a possible reversal, generating the first positive quarterly returns for Grayscale products in 2018, it pointed out.
The vast majority of the company's other clients are family offices or individuals with a high net worth. Overall, Grayscale's customer asse...................... To view our full article Click here
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