Grayscale Investments expanded their Bitcoin holdings by adding an additional 17,100 Bitcoins to their current portfolios last week. The move shows the growing interest of institutional investors in digital assets.
Grayscale Investments is no new name in the cryptocurrency space. It is a company that manages various cryptocurrency funds. The company is a subsidiary of the Digital Currency Group, one of the major players in the blockchain industry.
The purchase of 17,100 BTC – worth $ 186 million at the time of writing – predicts a new bullish sentiment for Bitcoin which is considered digital gold by progressive financiers.
Data available on crypto derivative data website Bybt shows that between September 22 and September 25, Grayscale Investments increased its bitcoin position to almost 450,000 Bitcoins or $4billions of assets under management (AUM).
In a tweet dated September 26, Grayscale Investments revealed its current portfolio of cryptocurrencies. In addition to Bitcoin, Bitcoin Cash, Ethereum, the company also holds Litecoin, Stellar, XRP, and Zcash in its cryptocurrency trust funds.
Since Grayscale’s funds are traded on the OTC market, the growth of managed assets of these funds shows the growing interest of institutional investors in Bitcoin and cryptocurrencies.
There is a growing interest among institutional investors in digital assets. New regulations introduced in many jurisdictions also support the participation of institutional investors in digital asset space. Grayscale Investments is one of the leaders in this field that offer services to institutional investors. Fidelity Digital Assets and Bakkt are other major financial firms offering a wide range of services to institutional investors in the digital assets sector. Bakkt offers custody services to institutional investors through its Bakkt Warehouse platform.
Crypto Finance – a company based in Switzerland – is also offering solutions to attract institutional investors to the digital asset space.
This article was originally published on Blocks99.com