The leading digital assets management firm, Grayscale Investments LLC, has accumulated a large amount of Litecoin (LTC) boosting its Litecoin Trust holdings by an astonishing 1900% since the beginning of Q3 2020.
According to data shared by a Twitter user, @Lite_hause, the total assets under management (AUM) in the company’s Litecoin Trust was $2 million as of July 1, 2020. But the AUM has grown from $2 million to a whopping $40.7 million as of November 6, 2020.
Grayscale had significantly increased its litecoin holdings by 1900% and this is by far the highest increase the company has recorded across its products since the beginning of July.
The company’s clients have been showing growing interests in its altcoin trust funds. This had resulted in immense growth in the inflows to these altcoin trust funds. Grayscale’s Bitcoin Trust experienced a 115% increase, the Ethereum Trust 184%, and the Bitcoin Cash Trust 639% increase in the last five months.
The asset manager believes that digital currencies have the potential to bring a drastic change in the financial system that is currently in existence. Hence, it seeks to provide its investors with a reliable and accountable service that would enable them to make smart trading decisions.
Seeing as digital assets trading comes with its risks, Grayscale has built several familiar and transparent investment products that give its clients access to a wide variety of digital currencies.
The company allows its clients to trade on several digital assets in the form of traditional securities, without having to worry about the challenges that come with storing, buying, and selling them on their own.
Grayscale created these Trusts to attract a large number of investors who would like to trade on the underlying digital currencies contained in each Trust without keeping them directly.
A majority of these Grayscale Trust Funds are available over the counter (OTC) and can be bought by all investors using their investment accounts the same way that they would buy other securities.
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