Grayscale Investments, a crypto-focused investment fund, published its monthly holdings update this week, showing roughly $1.497 billion AUM, which is down slightly from the over $1.5 billion held on August 7.
— Grayscale (@GrayscaleInvest) August 30, 2018
Given that there doesn’t seem to be any major changes in terms of holding ratios, the drop in portfolio value is likely due to the market downturn following the multiple SEC denials of proposed ETFs backed by Bitcoin.
Grayscale has suffered a notable $30 million loss from its Ethereum Classic (ETC) Investment Trust, an investment product targeting institutional and accredited investors, which was driven by a sell-the-news type of event following the cryptocurrency’s listing on Coinbase.
The next major milestone for Grayscale will likely come when it launches its ninth product, the Horizen Investment Trust, which was originally planned for the third quarter of this year. Horizen (ZEN) is a privacy-focused blockchain platform that recently rebranded from ZenCash earlier this month.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.