Top Crypto Asset Manager Grayscale Surpasses $10 Billion AUM

Share it with your friends Like

Thanks! Share it with your friends!

Close

Leading crypto-asset fund manager Grayscale just recorded a massive milestone to its Twitter. This comes as the leading cryptocurrency Bitcoin, along with Ethereum and smaller altcoins, have erupted higher in the past 24 hours. Bitcoin traded as high as $17,850 on Tuesday, nearing its all-time high price closer to $20,000. Today, the U. S.-based digital asset fund manager Grayscale hit a $10 billion milestone. 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. 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. 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:It’s worth noting that there is also retail money entering the crypto space. For one, Square reported $1.6 billion in Bitcoin sales over Q3 of 2020.

All data is taken from the source: https://www.newsbtc.com/
Article Link: https://www.newsbtc.com/news/company/top-crypto-asset-manager-grayscale-surpasses-10-billion-aum/

#bitcoin #coinbasecharts #preciobitcoinhoy #cryptocurrencynews #cryptocurrencyexchange #cryptonews #cryptoexchange

Comments

Simone Mercuri says:

Fantastic video ❤️ No doubt, Bitcoin and the aggregated cryptocurrency market has incurred some notable upwards momentum once again, right now the leading crypto asset Bitcoin has breached $17,000 for the first time in the last three (3) years. Who would ever believe this can happen this year 2020 after the COVID-19 that the HUMAN RACE just uncounted, despite the 2nd LOCKDOWN going on in some countries now and the financial crisis going on in the WORLD, BITCOIN is still on the Bull 📈 However out of excitement a lot of investors/traders will rush and SELLOFF the little they Hold which i see as a very odd and old strategy of making profits, instead i would advice you find a working strategy/daily signals as i have been with Mr Davies O'Brien who is a Pro trader and also a signal provider. With his daily signals i was able to increase my 0.8btc to a total of 7.1btc within 5 weeks of active trade, which you would agree is a very good way of making profits. I would say don't sell, take advantage of this profitable season with Mr Davies O'Brien daily signals. He can be reach via Whatspp: +44 7723 173885 and Telgram @daviesbrien* for inquiries for insights into all crypto related issues .

Write a comment

*

Breaking U.S. Market News, Forex and Cryptocurrency Steve Rich FX TVClose