Bitcoin frenzy drives 900% surge in assets for crypto investment firm Grayscale : vimarsana.com

Bitcoin frenzy drives 900% surge in assets for crypto investment firm Grayscale


Bitcoin frenzy drives 900% surge in assets for crypto investment firm Grayscale
Ben WinckJan 14, 2021, 22:18 IST
Dado Ruvic/Reuters
Crypto investment firm Grayscale enjoyed a 900% surge in assets under management last year as bitcoin's rally drove multibillion-dollar
inflows.
The firm's assets ballooned to $20.2 billion from $2 billion in 2020, according to a Thursday report. Grayscale's
Bitcoin Trust drove most of the inflows, growing to $17.5 billion AUM from $1.8 billion.
Institutional investors' warming to bitcoin also aided the firm. Such funds counted for 86% of flows into Grayscale products in 2020, as well as 93% of all fourth-quarter inflows.
The firm's rapid expansion came as bitcoin spiked higher through the end of last year. Wider adoption and new interest from

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