Billion-dollar investment company- Grayscale says corporate investors are increasingly investing in the subcoin market. These companies make great money- Ethereum, Ripple, Bitcoin Cash, Litecoin, Stellar, Ethereum Classic, and Horizen; and emphasize that it flows to subcoins.
Institutional investors turn to subcoins
Rayhaneh Sharif-Askary- the company’s sales and business development director, told BlockTV that Grayscale’s third-quarter results show increased interest in the Altcoin Trusts such as Ethereum, XRP, Bitcoin Cash, Litecoin, Stellar Lumens, Ethereum Classic and Horizen. Rayhaneh Sharif-Askary added this description to the subject,
“I think it’s important to step back and look at the bigger picture and the wider train. Over time, BTC securities represents a presence in the market, we need to move away from maximalism. Results are more suitable for investors to diversify their portfolios, in addition to Bitcoin and show that this is really positive.”
Altcoins saw more investment
Grayscale’s sales and business development director says,
“In the third quarter, we applied approximately one-third of our offerings to non-BTC products; however, in the second quarter, this figure was around 25%, which was only 1% in the first quarter of 2019. therefore, this strategy encouraged traditional investors who were positive around this area and continued to adopt this new class of assets, as we saw a more balanced picture of demand. I think this is indicative of a long term trend.”
Total investment in Grayscale’s products approximated to $254.9 million in the third quarter. 84% of this total and the majority came from corporate investors with hedge funds. The company’s Bitcoin Trust exploded, although the subcoins saw more investment in the process. In the third quarter, Grayscale announced Bitcoin’s $171.7 million entry, the largest quarterly investment in product history.