2018-7-21 21:00 |
Various financial firms maintain active cryptocurrency portfolios these days. Grayscale Investments is one of the more well-known companies in this regard. The company has published its first digital asset investment report, which offers rather interesting insights. Approximately $250 million was raised during the first half of 2018.
Grayscale Investments Continues to Truck AlongFew people seemingly know how Grayscale Investments operates exactly. The firm specializes in investing in cryptocurrencies through dedicated offerings which are accessible to mainstream investors. Its funds span multiple cryptocurrencies, and the company continues to expand its offerings whenever possible. Attracting more investors is a top priority for the company, although it is not an easy process.
Despite falling cryptocurrency prices throughout 2018, Grayscale Investments has seen plenty of positive momentum. The company raised around $250 million across all of its cryptocurrency products. This is a very promising trend, mainly because some of its offerings have seen market prices decline by 60% or more. A lower price seems to attract new investors, though, which is rather interesting.
Perhaps the most interesting statistic is that 56% of the capital raised came from institutional investors. This is a critical market for the cryptocurrency industry as a whole. There have been numerous efforts to offer cryptocurrency to institutional investors, although none of these ventures have proven to be overly successful. Grayscale is seemingly doing something right in this regard.
As one would expect, Bitcoin remains the most popular cryptocurrency as of right now. It represents 63% of the capital raised during the first half of 2018. All other currencies make up the remaining 37%, further confirming that altcoins are not of much interest to institutional investors and others. Ethereum may be the only exception in this regard, although this has not been confirmed by Grayscale at this time.
It will be interesting to see whether or not Grayscale Investments will further expand its cryptocurrency offerings. There is still a big market out there waiting to be tapped, although it remains to be seen whether any alternative currencies will help boost mainstream adoption.
Although these figures paint a positive outlook for all cryptocurrencies, the current market price does not warrant much optimism. Bearish pressure is still plaguing all markets right now, even though there has been a relatively steady Bitcoin uptrend in place for several days.
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