Tanya Abrosimova
Independent Analyst
- Grayscale Investments published a report that confirmed the growing interest in digital assets.
- Institutional money continues flowing into the industry.
The total value of all assets under management (AUM) of the cryptocurrency funds operated by Grayscale Investments hit a new all-time high at $3.8 billion, according to the recent report published by the company.
Grayscale is one of the world’s leading providers of digital currency asset management services. The company offers both mono asset investment opportunities and diversified exposure via private and public funds.
Currently, Grayscale offers investments in mono asset funds for nine cryptocurrencies, including Bitcoin, Ethereum, Ethereum Classic, Bitcoin Cash, Litecoin. Also, the customers may choose a Digital Large Cap Fund, which offers exposure to the largest digital assets.
Grayscale Bitcoin Trust is the largest from the pack. It’s total assets under management exceeded $3.3 billion as of May 19, 20202. The second place goes to Ethereum Trust with $289.3 million.
Notably, Grayscale acquired half of all ETH mined since the beginning of the year, which may signal that the second-largest digital asset attracts significant investors’ interest.
Institutional investors change their mind
The inflow of institutional investors will drive the cryptocurrency universe to a new stage of evolution. As the FXStreet previously reported, A prominent economist and a founder of Adamant Capital Tuur Demeester believes that the big money flowing into the industry will create strong upside momentum and push Bitcoin’s price in the range $50,000 — 100,000.
The founder of Glassnode Rafael Schultze-Kraft, also pointed out that the number of Bitcoin wallets that contain at least 0.01 BTC increased by 14% in the recent year and reached 3 million, which means that Bitcoin is being accumulated both by crypto whales and retail investors.
There are now more than 3 million #Bitcoin addresses holding at least 0.1 $BTC (current value: $975 USD). That's 14% more addresses than one year ago today. (@n3ocortex)
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