On January 15, cryptocurrency manager Grayscale Investments surged $700 M. The increase has started in the final quarter of the last year.
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The CEO of the company Michael Sonnenshein tweeted about it.Grayscale accumulated $3.3 B through its cryptocurrency investment instruments in Q4 2020. This amount is a new record for the organization and proves the progress is institutionally based.
The total sum of average weekly investments is $250.7 M, $217.1 M of which comes from the Grayscale BTC Trust.
The company's recent report informs that on January 15 the firm had a new high of $27.1 B under management. At the beginning of 2020, it had only $2 B.Venture capital firm Digital Currency Group founded Grayscale Investments in 2013. The most famous project of the establishment is BTC Trust. It allows investors to purchase shares in trusts holding large pools of the cryptocurrency.
Grayscale also manages investment trust for Bitcoin Cash, Ether, Ethereum Classic, Litecoin, Horizen, XRP, Zcash, and Stellar Lumens.
The trusts of Grayscale are means of passive income. They exploit digital trade algorithms to follow the rates of digital assets in real-time.