Grayscale Has Raised $330 Million in 2018, XRP Trust Outperforms in Q3


Grayscale Investments, a crypto-focused investment fund, has managed to raise $330 million in 2018, despite an ongoing bear market that has stripped nearly $600 billion from the global market.

According to the report, Grayscale added¬†$81.1 million in Q3, with weekly average for its¬†Bitcoin Investment Trust at $4.5 million while its “Non-Bitcoin” Investment Products stood at $1.7 million per week. Nearly 60% of this capital came from institutional investors.

“Despite a slight deceleration in the most recent quarter, new investment into Grayscale products remains strong. Grayscale raised $81.1 million in Q3, bringing our year-to-date inflows to nearly $330 million. This marks the strongest year-to-date inflows through September that we‚Äôve experienced during any calendar year since the inception of our business,” notes the Grayscale team in the report.

While cryptocurrencies have largely continued their downward trend in Q3, Grayscale notes that both its Bitcoin Investment Trust and XRP Investment Trust have outperformed, putting in the first positive returns of 2018.

Grayscale has been aggressive in building out its institutional client base with ads on Google and other sites. The firm also recently leveraged Coinbase canceling its fund as a marketing opportunity.

When¬†Coinbase¬†revealed last month that it is shutting down its market-cap-weighted index fund targeted at accredited investors after raising less than the firm expected,¬†Barry Silbert, the founder of¬†Grayscale Investments,¬†made it known that Grayscale’s Digital Large Cap Fund is still accepting new individual and institutional¬†investors.

Grayscale now has $1.5 million AUM as it continues to push for larger capital inflows.

More: Grayscale Q3 Digital Asset Investment Report
Similar: Grayscale Hopes to Poach Institutional Clients From Coinbase

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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