The now well-known asset manager Grayscale made headlines again last weekend. In fact, investors bought nearly $ 1 billion worth of bitcoin (BTC) through the company’s Bitcoin Trust fund. And that in 24 hours!
Grayscale has several funds in which large investors can invest without having to own bitcoin themselves. It is a safe and easy way to invest in crypto. In this way they do not have to worry about laws and regulations, and therefore do not have to create a wallet or exchange account.
The asset manager has several funds. In addition to the bitcoin fund, it has funds for litecoin (LTC), ethereum (ETH), filecoin (FIL), and more. Last Friday’s update reveals that the company added a whopping $ 788 million worth of bitcoin to its fund in just 24 hours. Overall, the company now manages $ 46.1 billion worth of crypto.
While at the moment only accredited investors can still invest in the funds, Grayscale recently announced that it wants to eventually convert the bitcoin fund into an exchange-traded fund (ETF). This would mean that anyone with access to the stock exchange can invest in the fund, including small investors who don’t want to mess with wallets. This could therefore have a positive effect on the general adoption of bitcoin and crypto.
The traditional financial world occasionally shows that it does not fully know how to deal with crypto. Just this morning, the message appeared on Crypto Insiders that the largest bank in Europe is blocking shares of companies that have bought bitcoin themselves.