Grayscale Investments exceeded $1 billion.
Grayscale cryptographic products continue to attract investors – investments in Grаyscale Ethereum Trust exceeded $1 billion, and the total amount of funds managed by the company reached $8.5 billion.
Grayscale trusts allow investors to gain access to popular cryptov currencies in the form of securities. When a company buys shares of its trust, it invests directly in cryptov currencies, while Grayscale itself deals with the purchase and storage of digital assets.
Grayscale from $6.5 billion to $8.5 billion
At the end of October, the volume of funds under Grayscale management was estimated at $6.5 billion, but at the moment this figure has reached $8.5 billion. This has contributed to both the inflow of investments from the company’s clients and a significant growth of the cryptovoltaic market – the bitcoin exchange rate has exceeded $15,000 for the first time since the beginning of 2018.
Currently, the company has two cryptographic products registered with the U.S. Securities and Exchange Commission (SEC) – Bitcoin and Etherium trusts. Recall that Ethereum Trust (ETHE) was registered with the SEC early last month.