Digital asset management company Grayscale Investments immediately started buying Bitcoin after reopening trusts for third-party investors. According to statistics from Bybt.com, after restarting on Wednesday, the GBTC Bitcoin Trust acquired 2,172 BTC. As a result, the number of bitcoins at the company’s disposal increased to 608,810.
“We’ve seen a significant acceleration in institutional participation,” said Michael Sonnenschein, new CEO of Grayscale. – Now there is no longer professional risk from investing in the asset class of digital currencies. It may be a greater career risk if you don’t pay attention to it. The main idea for investing in bitcoin is the rotation of capital from gold. The inflows we are reporting should serve as evidence that investors are not waiting for ETFs to start participating in this asset class. ”
Prior to the closure of the investor trust, Grayscale invested half a billion dollars a week in bitcoin, significantly increasing activity compared to the third quarter. It was also noted earlier that institutional investments through GBTC and similar products have significantly decreased over the past week. However, investing $ 80 million in Bitcoin within hours of the trust’s reopening offers hope for a recovery of the previous capital inflows.
“After a hiatus from December 24, the Grayscale Bitcoin Trust is open for new investments since yesterday. Within the first day of their return, they added 2,172 bitcoins, which is the equivalent of 2.41x mined bitcoins during the same time period, ”writes GBTC Bitcoin Tracker.
At the same time, the price of bitcoin began to rise again. At the time of publication, it is $ 39 390, an increase of 13% over the past 24 hours. Commenting on the recent decline from all-time highs, Sonnenschein stated:
“Investors are used to price cycles like these. They use pullbacks to gain positions. ”
Statistics for January 13 show that Grayscale manages assets for $ 24.7 billion, of which $ 20.863 billion is in bitcoin. As promised, the company excluded the XRP-based trust from its reporting, liquidating it amid the US Securities and Exchange Commission (SEC) pursuit of Ripple.
Grayscale founder Barry Silbert boasted on Twitter a full-page ad for the company in today’s issue of The Wall Street Journal.
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