Grayscale Investments had $608 million in inflows in 2019, more than the previous six years combined.
It’s the largest asset manager for digital currency such as bitcoin.
Almost three-quarters of Grayscale’s 2019 assets raised came from institutional investors like hedge funds, the company said.
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It looks like cryptocurrency is here to stay.
In 2019, Grayscale Investments, the largest asset manager for bitcoin and other cryptocurrency, saw $608 million in inflows, its best year ever. In addition, the record number surpassed its cumulative investment from the last six years combined, the company said in a press release.
The biggest portion of Grayscale’s 2019 investments came from institutional investors, primarily hedge funds, according to the report. Institutional investors including hedge funds accounted for 71% of inflows in 2019, up from 51% in the previous year.
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Reuters