This Wall Street ogre is spending money to get his hands on cryptocurrency

Always more bitcoins – The Grayscale investment fund regularly breaks its records for buying bitcoins and other crypto-assets. We barely had time to tell you about their recent records when the group is already breaking another. Grayscale now administers the equivalent of $ 7.3 billion in cryptocurrency on behalf of its clients.

$ 300 million worth of cryptos acquired in one day

There is not even a month, we reported the (now former) purchase record of 183 million bitcoins in 3 days of Grayscale .

The latter buys underlying crypto-assets to feed its investment funds and then sells shares in these funds, to make life easier for institutional investors (who then do not have to manage or store their cryptocurrencies directly).

As Barry Silbert , co-founder and CEO of Grayscale proudly announces , the latest record crushes all previous ones:

“An addition of $ 300 million in crypto-assets under management in a single day. “

$ 1.4 billion in crypto added since late September

By adding up the 9 cryptocurrencies that make up Grayscale’s funds – including Bitcoin and Ethereum which constitute the major part , the valuation of its digital assets under management now reaches $ 7.3 billion , an increase of 1.4 billion dollars. dollars within a month .

The acceleration of acquisitions took place in the last week before the publication of these new figures. This has indeed seen the purchase of $ 1 billion in cryptoassets over 7 days .

Even though the Grayscale Bitcoin Trust and Grayscale Ethereum Trust funds are by far the largest in terms of value – $ 6 billion and $ 942 million respectively , it should be noted that Litecoin (LTC) appears to have an impressive premium .

While litecoins value of each share of Grayscale litecoin Trust is 5.12 dollars , they bought 68 dollars by institutional investors. The latter are therefore ready to pay a surcharge of 1,328% above the price of LTC to acquire it.

If products intended for institutional investors are starting to approach the market price for Bitcoin , it would seem that large altcoins are still hardly accessible to them .

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