Cryptocurrencies
Biggest Bitcoin Investment Trust Says Hedge-Fund Demand Booming
- Inflows from institutions rose in 2019 to 71% from 66%
- Grayscale Investments took in $608 million last year
Photographer: Yuriko Nakao/Bloomberg
This article is for subscribers only.
Traditional hedge funds, pensions and endowments are boosting cryptocurrency holdings, according to the biggest Bitcoin trust provider.
Grayscale Investments, which lets accredited investors own Bitcoin and other coins via its funds, said it took in $608 million last year, surpassing the total amount raised the previous six years. The majority of the inflows -- about 71% -- came from institutions like hedge funds, up from 66% in 2018, according to Grayscale.