- Grayscale Investments now manages over $9 billion worth of crypto assets.
- It comes after they bought 20,000 BTC in the weeks following the halvening.
- Multiple ‘traditional’ investors have now entered the scene, including investment giant, Fidelity.
Grayscale Investments has revealed that the value of its crypto investments has now exceeded $9 billion.
Crypto investment fund Grayscale Investments has revealed it now manages over $9 billion worth of crypto assets. It also suggests that its crypto investment is likely to continue to grow given its success of using the asset as a hedge.
Grayscale Investment also made substantial moves in the crypto investment area earlier this year, purchasing over 20,000 BTC in the weeks following the ‘halvening’. The founder and CEO of parent company Digital Currency Group, Barry Silbert, remarked on the increased interest in crypto investment from the traditional world.
Tweeting shortly after the $9 billion revelation, Silbert said Grayscale had added over $500 million to its crypto assets on behalf of clients.
Grayscale’s crypto investments are an example of how investing in cryptos as a hedge is becoming more and more mainstream. Earlier this year, the world’s largest capital management company, Fidelity Investments, launched its own bitcoin fund, leading the way for the giants of the traditional investment world.
In a statement following the launch, Fidelity said that it has already made long-term commitments to the future of blockchain technology and that this fund would “allow its clients more access” to bitcoin specifically as an asset class.
Fidelity is not the only giant of the investment world dabbling in crypto investment. Banks and exchanges across the world, such as JPMorgan and the Chicago Mercantile Exchange (CME), have long provided access to crypto investments for their clients.
In fact, the CME made a name for itself late 2017 when it announced the launched the first mainstream bitcoin futures.
As investment firms like Grayscale and Fidelity continue to grow their crypto assets, and financial institutions like JPMorgan and the CME continue to widen access, we can only expect the inflow of investments to crypto assets to increase.