The calm before the storm – Grayscale is an asset manager who, over time, has positioned itself as a pioneer in cryptocurrency. Institutional investors are keeping a close eye on his actions, as he has become one of the world’s largest crypto-asset managers.
Periodic pauses separating accumulation times
The company announces the management of $ 24.5 billion assets in its various funds dedicated to cryptocurrencies. In early January, Cointelegraph reported that Grayscale’s bitcoin purchases were three times the number of bitcoin generated by the mining, capping a year of aggressive accumulation by the fund manager.
The society Grayscale Bitcoin Trust applies periodic breaks to registrations of new investors. So the December 21, 2020, the firm had made the decision to pause its program and close access to new entrants.
Time to get back to it, and rather twice than once
This action is not harmless Insofar as Grayscale is today the only American platform where institutional investors can obtain a bitcoin exposure.
Nevertheless, yesterday the investment manager has started accepting new clients and investors again in virtually all of its trusts in cryptocurrency, with the exception of of them trusts. Indeed, Grayscale Ethereum Trust remains unavailable to this day. It is the same for the Grayscale XRP Trust, inactive due to legal proceedings from SEC against society Ripple (which issues XRP).
Bitcoin is up nearly 10% on the week, and is trading at $ 34,500 as of this writing. Grayscale is therefore likely to wish to take advantage of this period of strong growth to attract new investors to its fund.