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Institutional investors show a greater interest in XRP
Ripple and XRP have been in the news in recent months due to different events and situations that have contributed to greater awareness of this virtual currency. Grayscale Investment has released new numbers relating to institutional investors and in which the cryptocurrencies are more interested. Currently the company manages $ 1.6 billion in assets among several investment funds it offers to customers.
As for the company, 12.5% of investors are interested XRP. Grayscale offers a fund known as the Digital Large Cap fund that allows companies to invest in the most valuable virtual currencies in the market. The number of investors interested in XRP reached the aforementioned value after registering a 9.9% stake in the last measurement.
However, Bitcoin (BTC) remains the most requested cryptocurrency. The interest for this crypt rose from 57.6% to 66.8%. At the same time, the interest for Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) decreased during the period between 30 June and 30 September. Ethereum rose from 23.6% to 13.1%, Bitcoin Cash from 6.5% to 5.5% and Litecoin from 2.4% to 2.1%.
It is important to remember that the reduction of interest in Ethereum is also related to its price action during this period. At the beginning of June, Ethereum was trading around $ 600 dollars and in September it was priced between $ 175 and $ 240 dollars. This represents a 70% reduction in its price in just a few weeks.
Although the Bitcoin domain increases, the Bitcoin investment trust in grayscale (GBTC) has recorded a low net asset value since December 2017. In the last month of 2017, Bitcoin reached $ 20,000 for a short period of time. Since then, GBTC shares have fallen more than 80%.
Furthermore, the investment firm claimed that over 56% of investments during the first half of 2018 were related to Institutional investors. During this year, companies in the market tried to improve their services and offer them to institutional investors who did not trust the old cryptography infrastructure.
In addition, the company has a series of encrypted investment trust that includes Bitcoin Investment Trust, Bitcoin Cash Investment Trust, Ethereum Investment Trust, Ethereum Classic Investment Trust and many others related to Litecoin, XRP and ZCash.
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