Crypto Asset Manager Grayscale Hits $10b Milestone
Today, the U.S.-based digital asset fund manager Grayscale hit a $10 billion milestone.
MILESTONE: Grayscale just surpassed $10 billion total AUM. It’s yet another reason to #GoGrayscale.
This was driven by two trends: a rapid uptick in the price of Bitcoin, which is now up by approximately 60% in the past month and is up 5% in the past day alone, and a strong amount of inflows into the Grayscale products.
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Grayscale has seen a strong uptick in institutional money entering its funds due to the increasing interest in the cryptocurrency as a hedge against other markets and an arbitrage opportunity, where crypto institutional players can sell their shares in the funds on secondary markets for a premium.
Related Reading: Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin
Institutional Money Is Entering the Space
There is a vast amount of institutional money entering the space, validating the ongoing rally that Bitcoin is seeing at the moment.
Stanley Druckenmiller, a Wall Street billionaire, last week revealed that he has a position in Bitcoin. He said the cryptocurrency may be a better investment that gold, especially in the inflationary times that we see today.
Paul Tudor Jones is another cryptocurrency bull that recently has begun to enter the space. He wrote in a May research note:
“I am not an advocate of Bitcoin ownership in isolation, but do recognize its potential in a period when we have the most
Crypto Asset Manager Grayscale Hits $10b Milestone Today, the U.S.-based digital asset fund manager Grayscale hit a $10 billion milestone.
MILESTONE: Grayscale just surpassed $10 billion total AUM. It’s yet another reason to #GoGrayscale.
This was driven by two trends: a rapid uptick in the price of Bitcoin, which is now up by approximately 60% in the past month and is up 5% in the past day alone, and a strong amount of inflows into the Grayscale products.
Reloads and free spins available every day, for every player, in mBitcasino Crypto Autumn Bonanza! Play Now!
Grayscale has seen a strong uptick in institutional money entering its funds due to the increasing interest in the cryptocurrency as a hedge against other markets and an arbitrage opportunity, where crypto institutional players can sell their shares in the funds on secondary markets for a premium.
Related Reading: Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin Institutional Money Is Entering the Space There is a vast amount of institutional money entering the space, validating the ongoing rally that Bitcoin is seeing at the moment.
Stanley Druckenmiller, a Wall Street billionaire, last week revealed that he has a position in Bitcoin. He said the cryptocurrency may be a better investment that gold, especially in the inflationary times that we see today.
Paul Tudor Jones is another cryptocurrency bull that recently has begun to enter the space. He wrote in a May research note:
“I am not an advocate of Bitcoin ownership in isolation, but do recognize its potential in a period when we have the most