The world’s largest crypto hedge fund, Grayscale, has topped up on more Bitcoin. The firm does not appear to be slowing down, an indication that more investors are rushing to put their money in digital currencies.
In a tweet on January 5, Barry Silbert’s Grayscale Investments revealed that its total crypto assets under management had increased to $23 billion. This is an addition of $3.3 billion in less than a week since the firm announced reaching the $20 billion mark only six days ago.
Following its recent purchase, Grayscale now holds around $19.5 billion in Bitcoin.
Grayscale has grown to become one of the foremost crypto hedge fund managers. They regularly purchase Bitcoin, Ethereum, and eight other crypto-based products for clients. Surprisingly, although the firm announced in December that it had suspended cash inflows from investors, it is still on a buying frenzy. Data confirms that Grayscale’s customers are still hungry for Bitcoin and Ethereum.
As for the second most popular cryptocurrency Ethereum, the company manages $3 billion worth of the crypto asset.