Grayscale cryptocurrency investment continues to grow

The director of sales and business development at Grayscale said that in the second quarter of 2019, the flow of investments in the cryptocurrency fund almost doubled.

Rayhaneh Sharif-Askary noted that in the second quarter of this year, the fund received $ 85 million of client funds, with 84% of this money coming from institutional investors.

Grayscale is one of the world’s largest cryptocurrency asset managers. The fund provides several cryptocurrency trusts, which allows institutional clients to invest in digital assets, “as if they were traditional securities.”

Sharif Askari has denied all myths that institutional investors keep aloof from cryptocurrencies:

“I am often asked about this. The media is constantly interested in when institutional investors begin to enter the industry, when they begin to invest. This is funny, because we see that institutional clients are constantly investing with us for a long time. ”

Sharif-Askari also noted that she was pleased to launch a trading platform for institutional investors Bakkt and hopes for the emergence of new companies in the industry:

“We are a fairly small team and cannot be the only ones who train investors and provide access to this class of assets,” she said.

According to Sharif-Askari, in the second quarter of this year, institutional investors drew attention to altcoins – about a quarter of the investments were placed in altcoin trusts. Perhaps this signals that institutional investors have finally mastered the cryptocurrency industry.

In August of this year, the investment company Grayscale Investments transferred its cryptocurrency assets worth $ 2.7 billion to the custody unit of Coinbase.