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Grayscale, the world’s leading cryptocurrency hedge fund, is about to hit a major milestone as its cryptocurrency holdings are now worth $ 9.8 billion.
What we know: New numbers on Grayscale’s crypto products show that the company now has $ 9.8 billion in assets under management (AUM), which is fast approaching the $ 10 billion mark. Barry Silbert, The founder / CEO of Grayscale via his Twitter feed has revealed the holding of cryptocurrencies, as seen by Nairametrics.
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- Equity under management, holdings per share and market price per share for our investment products.
- Total assets: $ 9.8 billion
- Cryptocurrency Wallet Includes $ BTC $ BCH $ ETH $ ETC $ ZEN $ LTC $ XLM $ XRP $ ZEC
READ: The week that shook the world: the collapse of Lehman Brothers and the effect it had on me
$ 200 million to go to https://t.co/vnQWM2dz2a
– Barry Silbert (@BarrySilbert) November 13, 2020
What does it mean: The rapidly growing crypto hedge fund investment product suite offers institutional investors simple and secure 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 rushed to hold a holding in cryptocurrencies that all outperformed other financial assets in 2020.
A popular New York-based hedge fund – Grayscale Investments – has taken the investment world by surprise by buying Bitcoin (BTC) at a great pace in recent months.
READ: Bitcoin could reach $ 225,000 by 2021
What You Need to Know About Hedge Funds; They are companies that offer alternative investments to a specific type of investor (people with high net worth), in an attempt to protect their investment portfolios from market uncertainty, while generating positive returns regardless of market opinion.
Bottom line: With global economic uncertainty gradually becoming a daily norm, institutional and hedge funds around the world have rushed to have a stake in crypto assets that have all outperformed other financial assets in 2020.
READ: List of Cryptos you can buy and sell on PayPal
Explore the data on the Nairametrics research website
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