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Grayscale raised over $ 700 million to its crypto trusts in just one day

The growing demand of institutional investors for cryptocurrencies is evidenced by the data on the increase in investment in trusts by the Grayscale asset management company. At the end of last week, this giant published new figures, from which it follows that the total amount of funds accumulated in Grayscale cryptocurrency trusts exceeded $ 27 billion. Only one Bitcoin trust holds BTC for $ 22.9 billion. The second place is taken by the Ethereum trust ($ 3.467 billion). … Grayscale CEO Michael Sonnenschein recently tweeted that his company raised more than $ 700 million in trusts in just one day (January 15). In the fourth quarter of last year, investors poured $ 3.3 billion into Grayscale crypto trusts – a record capital inflow into the giant’s products. asset manager. On average, the Bitcoin trust Grayscale alone receives at least $ 217 million weekly from investors. Note that in January last year, the cryptocurrency controlled by Grayscale was valued at only $ 2 billion. Analyst Eric Balchunas told Bloomberg reporters that Grayscale has made a global revolution. This company made it possible for institutionalists to enter the crypto sphere not directly, but through a special “bridge” in the form of investment products. It is already impossible to break such a trend, the expert believes. In addition to bitcoin, the interest of large investors in ether (ETH) is growing. Back in December, it became known about the rise in the price of shares of the Ethereum Trust Grayscale. The price of one security then reached $ 20.25.

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