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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

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From: Julius Wong	10/23/2020 8:43:06 AM
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Grayscale sees big inflows as crypto enthusiasm rises Oct. 23, 2020 8:09 AM ET\|About: Grayscale Bitcoin Trust ... (GBTC)\|By: Stephen Alpher, SA News Editor After hitting $7B in assets under management for the first time on Wednesday, Grayscale reports inflows of another $300M yesterday. The granddaddy of the Grayscale funds is the Grayscale Bitcoin Trust ( GBTC), and AUM in that fund has surpassed $6B after pulling $234M of the $300M in inflows on Thursday. The second-largest is the Grayscale Ethereum Trust ( OTCQX:ETHE), and AUM there is now just shy of $1B. Crypto in general, and Bitcoin ( BTC-USD) in particular has been in major rally mode of late, helped by corporates like Microstrategy, Square, and the U.K.'s Mode Global investing a portion of their treasury assets in cryptocurrency. Then there was Wednesday's news of PayPal allowing its 346M users to buy Bitcoin. The rally got another boost yesterday when Paul Tudor Jones took to CNBC to say he's a bigger fan now than when he first invested a few months back. Grayscale chief Barry Silbert was so enthused by the PTJ appearance that he bought some Bitcoin. Later this morning, former global macro hedge-funder, and now crypto-evangelist Mike Novogratz is set to appear on CNBC. Bitcoin surged to a multi-year high above $13K yesterday. It's sitting at $12.97K this morning. Other Grayscale vehicles all have less than $100M in assets: Grayscale Bitcoin Cash Trust ( OTCQX:BCHG), Grayscale Ethereum Classic Trust ( ETCG), and the Grayscale Litecoin Trust ( OTCPK:LTCN).

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