Bitcoin & XRP Still Being Profitable & Institutional Interest on Surge

Crypto Ratings

Bitcoin & XRP Still Being Profitable & Institutional Interest on Surge

In Spite of quarter 3 being a bear market, institutional investors’ interest is increasing in the crypto sector as per the report of digital asset manager Grayscale investments. Moreover, Bitcoin & XRP keeps on making the profits for the firm’s investments, unlike other cryptocurrencies.

Institutional Investments’ Heavy Inflow in Crypto Sector “Bitcoin has the potential to radically transform our concepts of money, store of value, and the means by which assets are exchanged the world over,” says the founder of Grayscale Investment, Barry Silbert.

In its latest investment report for Q3, one of the world’s largest digital asset managers shares the total investment made in this quarter has been $81.1 million with the majority of the investment i.e. 70 percent from the institutional investors.

The point worth noting here is q3 didn’t see much movement in the crypto market, mostly reflecting low trading volume and little to no price movement.

The report writes, “Despite a slight deceleration in the most recent quarter, new investment into Grayscale products remains strong,” before further adding, this has been “the strongest year-to-date inflows through September that we’ve experienced during any calendar year since the inception of our business.”

It further shares “Institutional investors’ share of new investment increased to 70% in Q3, though the dollar-value invested was lower than in the two previous quarters.”

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Moreover, US remains the dominant region as it explains, “Roughly 64% of all new investment came from U.S. investors, followed by offshore investors (e.g., Cayman-domiciled entities), and investors in other regions of the world.”

When it comes to the cryptocurrency “Bitcoin is still king” as Bitcoin Investment Trust saw the highest average weekly investment of $4.5 million. Another cryptocurrency that is making a strong impression with its profit potential is XRP as the company shares, “While Q3 marked the lowest point of the 2018 drawdown, 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.”ki

The quarter 3 report of Grayscale shows a pretty bullish picture for the Bitcoin and cryptocurrencies as the institutional interest and investment stays focused on the crypto market despite it being a bear market.

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Bitcoin & XRP Still Being Profitable & Institutional Interest on Surge Despite Bear Market
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Bitcoin & XRP Still Being Profitable & Institutional Interest on Surge Despite Bear Market
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In Spite of quarter 3 being a bear market, institutional investors’ interest is increasing in the crypto sector as per the report of digital asset manager Grayscale investments. Moreover, Bitcoin & XRP keeps on making the profits for the firm’s investments, unlike other cryptocurrencies.
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I am an entrepreneur and a writer with a bachelors degree in Computer Science. I manage the blockchain technology and crypto coverages at Coingape. Reach out to me at [email protected]

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