Grayscale’s assets exceed $ 5.5 billion
Investment company Grayscale now has more than $ 5.5 billion at its disposal
Cryptocurrency fund has grown by almost 15% compared to last week
Unrelenting Institutional Investor Interest in Grayscale Helps Industry Boom
International consortium of news organizations developing transparency standards.
Cryptocurrency investing platform Grayscale announced another large increase in assets under its management.
As a global leader in digital currency management, Grayscale is an indicator of the entire cryptocurrency ecosystem. This news also speaks of a surge in interest from institutional investors..
Grayscale already owns a significant portion of its BTC and ETH reserves. And judging by the update on Grayscale’s Twitter account on August 5, that number is increasing..
The tweet notes that the investment firm currently has $ 5.5 billion at its disposal, which is distributed among various funds, which is almost 15% more than last week..
These funds are mainly held in trust by Grayscale: Bitcoin (82.78%) and Ether (13.61%), along with a large-cap digital fund. Smaller receipts include other assets such as Ethereum Classic, Zcash, and Litecoin.
Ethereum Classic only accounts for 1.55% of Grayscale’s total assets, but it’s worth noting that ETC has recently undergone another 51% attack. A series of attacks took place in which attackers stole approximately $ 5.68 million in ETC, perhaps even more, since the amount stolen during the last hack is not known for sure.
These events led the Ethereum Classic team to ask ancillary service providers such as exchanges and mining pools to increase their confirmation times..
Since the onset of the Covid-19 pandemic, there has been a steady influx of cryptocurrencies. Amid growing interest, Grayscale has also published guidelines for financial advisors so they can learn more about digital assets:
“More than a third of American investors are interested in investing in cryptocurrencies, for example, # Bitcoin. Financial advisors need to learn more to develop this asset class. “.
And if that’s not enough, Barry Siebert, founder and CEO of Digital Currency Group, Grayscale’s parent company, tweeted: “You haven’t seen anything yet.”.
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