Grayscale-Investments-Releases-Crypto-Holdings-Update-For-August

Grayscale Investments Releases Crypto Holdings Update For August

The month is basically over now and Grayscale Investments, an investment fund focused on cryptocurrencies, has released its usual update for how the business is going. The update shows that the holdings company has roughly $1.497 billion AUM, which is slightly down from the $1.5 billion AUM that it had on August 7.

As the information does not show any major change in how the holding ratio of the company is, the drop in the portfolio is likely to due to the crypto bear market and the prices steadily going down as the U. S. Securities Exchange Commission (SEC) has denied multiple ETFs backed by Bitcoin.

One of the most notable recent losses of Grayscale is a $30 million loss from its Ethereum Classic (ETC) Investment Trust, which was created targeting institutional and accredited investors after ETC was listed on Coinbase earlier this year. However, the price dropped and the company has lost money.

The Future Of Grayscale Investments

The next major milestone that Grayscale is looking for is to launch the Horizen Investment Trust, which will be the ninth product of the company. Horizen (ZEN) is a blockchain platform that is focused on privacy and was recently rebranded (it was ZenCash before). The product will be launched at the third quarter of the year.

Grayscale may be down 1% since August 7, however, the AltDex 100 Index, which is a benchmark index for the crypto market, is down 5.4% in the same time frame, which means that the company is not necessarily very bad, just stagnating. If the market recovers, then there is a good chance that Grayscale will do it, too.

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2018-09-01 02:54:41

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Bitcoin Exchange Guide News Team

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