Grayscale Investments, a digital asset management firm that offers retail investors the ability to invest in crypto via listed funds, says it has topped $10 billion in assets under management (AUM). In fact, the investment firm says that last week it experienced an inflow of $262.3 million. Grayscales claims the title as the “world’s largest digital currency asset manager.”
At the end of September 2020, Grayscale reported that it had approximately $5.9 billion in assets under management across its family of 10 products. This means a combination of reinvigorated interest in crypto, along with the rapid rise in the price of certain digital currencies like Bitcoin have helped the firm hurdle the $10 billion mark.
So a bigger question is whether or not this part of a trend of broader acceptance by retail and institutional investors in crypto. And will Bitcoin continue its incredible rise in value as it nears USD $20,000 – perhaps surpassing its previous all-time high. Earlier today, crypto proponent and CEO of Galaxy Investment Partners Michael Novogratz predicted that Bitcoin will top $65,000 within the coming year. Other notable names have predicted even higher target prices for the world’s most loved cryptocurrency.