Grayscale, the country’s largest institutional asset managers in the area of crypto-currencies, now holds about 277.000 Bitcoin (BTC) in the value of 2,866 billion dollars.
The company provides crypto-currencies on their Bitcoin-backed flagship product, the Grayscale Bitcoin Trust (GBTC),. In addition, it also offers Altcoin Trusts, including Ethereum, XRP, Bitcoin, Cash, Litecoin, Stellar, Zcash, Ethereum Classic and Horizon. The company has released a new Overview of its managed assets. It shows that Ethereum and Ethereum Classic are the second and third most popular crypto – currency investors.
The popularity of the Grayscale Bitcoin Trust exploded in the year 2019, as the company stated that the total investment for all of the reach of their products this year 607,7 million dollars. This figure is higher than all the cumulative investment from 2013 to 2018. The company says that institutional investors promote with deep pockets a major part of their growth.
- 71% of investments in the year 2019 came from institutional investors.
- The customer base was expanded by 24%, with more than 75% of the capital raised was attributable to existing customers.
- 36% of the Grayscale customers now have associations to multiple products within the Grayscale range.
At the recent crypto-financial conference in Switzerland, Michael Sonnenshein, the managing Director of Grayscale, said that the institutional money has arrived in the world of crypto-currencies, and Bitcoin already has a certain market share of the Gold collected:
I think one of the areas that is already underway is the Acquisition of shares in the gold market or Bitcoin or other digital assets that form as a digital value storage means. Maybe Gold and other things were the kind of investments which had a place in a Portfolio, when the world was much physical. Whether for Good or Bad – I would say, to the Good – the world has become quite digital. So it is time to think about what constitutes a digital value storage service, and we begin to things like Bitcoin to be considered.
In the future, after the sun Hein’s view, the Millennials and the younger generations will play a key role in the introduction of crypto-Assets.
I think the analogue, on the not so much discussed, and we consider extremely important, is to be found in the United States. In the last 25 years, we see about 68 trillion dollars, the boomers from the older generations, Baby -, more will be given, up to Millennials and younger generations. We will not, therefore, say with certainty that 68 trillion, the flow of dollars in the digital currency. What we think, however, is that investors are positioned today in their Portfolios, and need to pay attention to skating in the direction of the puck.
Younger generations do not necessarily have the same investment preferences and the same type of investment does not necessarily find resonance with you. So if you grew up in the time of Apple, and Venmo, and Bitcoin, the possibility to pay your friends to buy a flight with airline miles, whatever it may be, we think that crypto-currencies will be a receiver. A portion of this money value from one Generation to the next
Published in December, Charles Schwab, a report that shows that the Grayscale Bitcoin Trust is the fifth most popular stock among Millennial investors, even before Disney, and Netflix.
Featured Image: Wit Olszweski | Shutterstock