Grayscale, World’s Largest Crypto Asset Manager, Says Ripple’s XRP Is The Only Rising Investment Trust Amidst The Crashing Market
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 except 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.
As you can see in the chart below, Grayscale’s XRP Investment Trust managed to rise 3.2% from November 16th no November 19th.
On the other hand, Bitcoin Cash experienced a decline of 24%, Bitcoin, 7.19% and the other five cryptos also declined as well, as you can see.
11/19/18 UPDATE: Holdings per share and net assets under management for our investment products
— Grayscale (@GrayscaleInvest) November 19, 2018
Back in July, Grayscale released a report which was detailing the capital distribution among the core products that it has. According to the report, in the first half of this year, 56% of investments came from institutions which had large amounts of capital.
After institutional investors, the company’s largest groups of investors are the following: accredited individuals (20%), retirement accounts (16%) and family offices (8%.)
XRP is staying strong in a falling market
November 19 probably marked the worst day for the crypto markets so far this year.
Bitcoin dropped like never before, Ethereum, and Bitcoin Cash fell as well, along with all significant cryptos.
Ripple’s digital asset XRP seems more successful than ever these days.
The host of CNBC’s Crypto Trader Ran Neu-Ner believes that “at this rate, XRP will be in the number 1 spot by Friday,” via CryptoGlobe.
Neu-Ner also showed the results of a poll that he conducted just recently which was asking his followers if they were to receive a gift of $10,000 that they had to keep for ten years, in what form they would choose to accept it.
The results of this poll really surprised me – they show we really have a big problem in Crypto. I REALLY thought American Airlines miles would do way better!!! pic.twitter.com/9HsKaFr7Zx
— Ran NeuNer (@cryptomanran) November 18, 2018
The four options were: Bitcoin, Ripple‘s XRP, BCH SV, and American Airline Miles and as you can imagine the winner was XRP.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.