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Grayscale Investments has more than $ 25 billion under management
Grayscale Investments has over $ 25 billion in assets
Over the year, the indicator grew by almost $ 23 billion
Growing institutional interest will push prices up in 2021
Grayscale Investments manages over $ 25 billion in assets, 13x more than in the first quarter of 2020
Grayscale Investments on Tuesday reported that as of January 12, the volume of assets under management (AUM) exceeded $ 25 billion. In addition, the company again opened access to its products for new investors. Earlier, the editorial staff of BeInCrypto reported that the company closed access to six trusts.
01/12/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
Total AUM: $ 25.0 billion $ BTC $ BCH $ ETH $ ETC $ ZEN $ LTC $ XLM $ XRP $ ZEC pic.twitter.com/0aNNHB1VKb
– Grayscale (@Grayscale) January 12, 2021
Another Rubicon for Grayscale
The company has crossed an important milestone amid growing interest in cryptocurrency markets. Despite the correction at the beginning of the week, bitcoin and most of the other coins from the top hundred are in the green zone relative to the levels of the beginning of the year. Grayscale Investments has been accumulating BTC since the May halving and at the current rate of $ 33,000 it brings in an impressive income.
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In January 2020 alone, the volume of assets managed by Grayscale grew by $ 10 billion. The company’s assets consist mainly of bitcoin and ether ($ 21 billion and $ 3.1 billion, respectively). Recall that in December, the company acquired more than 17 thousand bitcoins in one day. The growth potential has not yet been exhausted. In particular, altcoins have already begun to recover from a drawdown..
By comparison, Grayscale only had $ 2.2 billion in circulation in the first quarter of 2020. In less than a year, this amount has grown by about 13 times to current values. Of course, the market will still experience more than one correction, but the essence remains the same. Grayscale knows how to generate profits for its investors.
The company’s assets will rise in price due to the strong fundamental base of BTC and ETH, including the growth of network activity. The positive dynamics will attract more professional investors. Many are already eyeing the market or actively investing in digital currencies, according to Bitwise Survey..
Institutional interest continues unabated
If in 2017 the market was driven by retail investors, then this rally is fueled by institutional money. Many companies assess the attractiveness of bitcoin, but they still have doubts about volatility and uncertain regulatory framework..
Jeff Currie of Goldman Sachs’ believes that the cryptocurrency market is moving to a new stage of development, becoming more mature. Other analysts share his point of view, pointing to the possibility of a sixfold rise in the price of bitcoin by the end of 2021..
These include strategists at JPMorgan Chase, who predicted the first cryptocurrency will rise in price to $ 146,000, and the head of Binance US Catherine Cowley, who believes that Bitcoin will settle in the $ 75,000 to $ 100,000 range..
Institutional investment will play an important role in increasing demand for the first cryptocurrency. This year, regulators will clarify their stance on stablecoins and other coins, which will also propel the market up the evolutionary ladder..
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