The world’s leading crypto hedge fund Grayscale is on the grip of reaching a major milestone as its crypto holdings are now worth $9.8 billion.
What we know: New numbers on Grayscale’s crypto products show the company now has $9.8 billion in assets under management (AUM), rapidly approaching the $10 billion mark. Barry Silbert, founder/CEO of Grayscale via his Twitter feed revealed the crypto holding, as seen by Nairametrics.
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- Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
- Total AUM: $9.8 billion
- Crypto portfolio include $BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC
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$200 million to go https://t.co/vnQWM2dz2a
— Barry Silbert (@BarrySilbert) November 13, 2020
What this means: The fast-rising crypto hedge fund suite of investment products give institutional investors a simple and safe exposure to Bitcoin Cash (BCH), Litecoin (LTC), Stellar (XLM), Horizon (ZEN), Zcash (ZEC), Bitcoin (BTC), Ethereum (ETH), XRP, Ethereum Classic (ETC).
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Recall Nairametrics about five months ago, revealed how institutional investors and hedge funds around the world have been rushing to have a stake in crypto assets which all have been outperforming other financial assets in 2020.
A popular hedge fund based in New York –Grayscale Investments –caught the investment world by surprise by buying up Bitcoin (BTC) at a great rate in recent months.
READ: Bitcoin could reach $225,000 by 2021
What you need to know about Hedge Funds; They are firms that offer alternative investments to a specific type of investors (high net worth individuals), in a bid to protect their investment portfolios from market uncertainty, while generating positive returns regardless of market sentiments.
Bottom-line: With global economic uncertainty gradually becoming a daily norm, institutional and hedge funds around the world have been rushing to have a stake in crypto assets which all have been outperforming other financial assets in 2020.
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Explore Data on the Nairametrics Research Website