- Grayscale has added 28,413 Bitcoin to its Bitcoin Trust since the halving last month.
- Approximately 90% of Grayscale’s customers are institutional customers.
Grayscale, a leading digital asset product provider, has been making crypto headlines as it sees record-high levels of assets-under-management. Grayscale’s largest product by AUM is its Bitcoin Trust. The trust has added over 28,000 BTC since the halving last month, more Bitcoin that was mined since the event.
On a recent Coinscrum podcast, Ray Sharif-Askary (Director of Investor Relations at Grayscale) discussed Grayscale’s recent surge in demand for Grayscale products. According to a recent tweet, Grayscale now has $4.0 billion in total assets under management.
On the podcast, the host, Nisa Amolis, asked Sharif-Askary if the pandemic has influenced the demand for its products in any way. According to Sharif-Askary, monetary policy amid the pandemic has bolstered Bitcoin’s value proposition as a store of value. Furthermore, the massive amounts of monetary economic stimulus make digital assets attractive to institutional investors looking for a hedge against inflation.
What Type Of Investors Buy Grayscale Products
Sharif-Askary also provides some clarity on the type of investors purchasing Grayscale products. According to Sharif Askary, approximately 90% of Grayscale’s investment inflows have been through institutional customers. In regards to institutions specifically, hedge funds comprise a large segment. Sharif Askary noted that crypto hedge funds only account for a small part of the intuitional inflow. However, traditional hedge funds account for a large portion of the hedge funds gravitating towards Grayscale’s products.
Grayscale’s recent influx of new money is evidence of the rising institutional sentiment surrounding cryptocurrency, and more specifically, Bitcoin.
Disclaimer: Content displayed on thecryptoassociate.com is not investment advice. Investors should do their own research before investing in digital assets or anything displayed on this site. The Crypto Associate does not recommend trading any sort of investment in cryptocurrencies and digital assets. The Crypto Associate is not responsible for any losses incurred due to the buying or selling of cryptocurrencies displayed on this site. All content is for informational purposes only. The Crypto Associate does not endorse, affiliate or represent any third-party links including advertisements. The Crypto Associate participates in affiliate marketing. Read the full disclaimer