Grayscale suspended investments in crypto funds
The investment company Grayscale temporarily stopped accepting deposits in 6 cryptocurrencies funds.
Investments in trust funds based on Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin and Digital Large Cap Fund were closed. Customers currently have access to deposit in the Horizen, XRP, Stellar Lumens and Zcash funds.
Analysts of one of the largest banks in the United States - JPMorgan suggested that reducing exposure to popular Grayscale cryptocurrencies could serve as a signal to bitcoin correnction. According to specialists, the institutions will allow the growth movement of BTC and other cryptoes to form in the long term.
In addition, Grayscale announced a reduction in the fee for managing a large assets fund from 3% to 2.5%. The co-founder of Capriole Investments, Jan Uytenhout noted that Grayscale only today acquired about 12,000 BTC. This highlights the position of the company's clients who want to invest more and more in decentralized digital currencies.
It is worth mentioning that Grayscale already manages assets (AUM) worth almost 16 billion dollars. Despite a temporary cessation of new clients, the financial giant is still buying more and more cryptocurrencies.
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