Grayscale Investments has announced a record quarterly performance, raking in $1.05 billion in investments, mostly from institutional investors. The company also sees “unprecedented demand” for bitcoin cash.
Grayscale Investments released its third-quarter performance Wednesday. The company tweeted:
We just recorded our largest ever quarterly inflows – over $1.0 billion in 3Q20 – making it the third consecutive record-breaking quarter. YTD investment into the Grayscale family of products has surpassed $2.4 billion.
Specifically, the company revealed that the total investment into its products in 3Q 2020 was $1.05 billion, noting that the majority of investment (81%) came from institutional investors, dominated by hedge funds. In the third quarter, offshore investors accounted for 57% of new investment capital into its products.
The total investment into Grayscale’s products was $2.7 billion over the 12-month period ending Sept. 30, which was more than double the $1.2 billion cumulative inflow into the company’s products from 2013 through 2019.
Grayscale also revealed that three products have seen “unprecedented demand.” The company detailed, “Grayscale’s Bitcoin Cash, Litecoin, and Digital Large Cap [DLC] products have all seen over 10x growth in inflows quarter-over-quarter,” elaborating:
Unprecedented demand for BCH, LTC, and DLC … On average, the aforementioned products saw inflows increase by more than 1,400% quarter-over-quarter.
“These developments followed FINRA’s verification in July that the required diligence to begin quoting the bitcoin cash and litecoin products … had been completed,” the company explained.
Grayscale Investments’ total net asset under management is $6.3 billion as of Tuesday. The Grayscale Bitcoin Trust (GBTC) had the most asset under management ($5,157 million), followed by the Ethereum Trust ($867.7 million) and the Digital Large Cap Fund ($92.0 million). The company described:
Investors appear to be interested in digital assets because they have outperformed major indices YTD.
Meanwhile, the company announced on Tuesday that, like GBTC, its Ethereum Trust had attained the status of a Securities and Exchange Commission (SEC) reporting company.
What do you think about Grayscale’s Q3 performance? Let us know in the comments section below.
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
XRP news today: Ripple live in 55 countries & 95 currency pairs
RippleNet additionally now presents over 95 forex pairs, in response to the San Francisco startup’s newly redesigned web site. In the meantime, On-Demand Liquidity (ODL), Ripple’s XRP-powered cross-border funds product, is accessible within the US, Mexico, Europe, the Philippines and Australia.
U.S. Securities and Alternate Fee Commissioner (SEC) Hester Peirce, well-known for her pro-cryptocurrencies views, mentioned elevated curiosity within the area will essentially drive the regulatory physique to shift towards a extra accommodating stance, but it surely gained’t be simple, in response to a latest interview with Cointelegraph.
Observe me on twitter: https://twitter.com/xrpspeculation
Enterprise enquiries: [email protected]
Ripple Says World Funds Community Stay in 55 International locations and 95 Foreign money Pairs, With XRP Remittances Working in 5 Areas
Ripple Says Global Payments Network Live in 55 Countries and 95 Currency Pairs, With XRP Remittances Running in Five Regions
Binance Coin, Stellar Lumens, Cosmos Price Analysis: 16 October
Binance Coin despite its immediate bearishness on the hourly charts, remained strong in terms of buying volumes, that might help BNB in its price recovery over the next few days. Cosmos too, although bearish for the day, could be poised for price recovery soon, given its overall uptrend and weak selling pressure.
While Stellar Lumens indicated the presence of some selling sentiment and may continue to remain bearish over the weekend.
Binance Coin [BNB]
The digital asset seemed to be in a short-term price correction, as Binance coin’s hourly chart recorded a quick sell-off. However, the buying interest in BNB failed to depict a similar trend, maintaining a good buying volume as seen on the OBV.
MACD on the other hand indeed captured a strong sell signal as price dove southwards for the day. There was a bearish crossover as the MACD line moved below the signal line.
Binance coin despite its recent price drop maintained a good level of buying volumes. Its bounced back near the immediate support at $30.134, signaled an uptrend could also be a likely scenario by the weekend.
Stellar Lumens [XLM]
Stellar Lumens (XLM) the native cryptocurrency of the Stellar network, was at the time of writing trading at $ 0.073. It moved above its immediate support level at $ 0.071
While XLM noted an overall uptrend, the digital asset’s trading sessions since 11 October have been bearish. The Awesome Oscillator (AO) was seen making a bearish crossover, diving below the zero line.
With the AO technical indicator giving a sell signal, the dotted lines of the Parabolic SAR above the candles too suggested a downward price action.
A pullback from the current resistance may be encountered in the upcoming trading sessions.
Approaching the weekend, Cosmos was maintaining an overall uptrend. The digital asset at press time was trading just above its trendline and the pivot level at $ 5.453.
The Directional Movement Index, DMI with its -DMI(orange) above the +DMI (blue) gave a sell signal. Aroon Indicator too, indicated short-term bearishness, as the Aroon Up (orange) dived below the Aroon Down (blue).
But given the digital asset’s overall uptrend and if the bears fail to maintain a strong selling pressure, prices might bounce back up from the immediate support of $ 5.332 in the next few trading sessions.
Author: by admin
Diamonds Trading Signals Summary – Friday, October 16 2020
How does after spike forex news trading work?