Grayscale: Institutional Interest in Crypto Doubles in Q2
William Suberg's original article for cointelegraph.com reduced by 79%
A senior executive at cryptocurrency asset management giant Grayscale has stated that institutional investors are constantly piling into the space in 2019.Grayscale says institutions were always active. Q2 alone saw $85 million come from investors - twice as much as in Q1 - with institutional investors contributing more than 80% in total. "You know, it's really funny, I get asked this a lot - there's this rhetoric in the media about when are institutional investors going to get involved, when are they going to start investing, and it's so funny because it's ironic.
We see institutional investors invest with us all the time and that's been the case for a long time now." These comments contrast with the general industry sentiment on institutional interest since trading platform Bakkt's disappointing launch in September. Many have assumed that institutions will be deterred from Bitcoin for the time being as various data sources highlighted that publicity around institutional involvement is hitting lows in recent weeks. Sharif-Askary meanwhile noted that investment activity disregards price suppression.
Grayscale currently offers trusts for nine cryptocurrencies, including Ether, Bitcoin Cash and Litecoin in addition to Bitcoin itself.
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Summarised crypto news.