Grayscale one of the fastest growing crypto investment firms has been making headline news ever since they started their TV ad campaign on August 10, 2020. On Friday CEO Barry Silbert tweeted that in just a single week they've managed to reach $217 million invested into the Grayscale funds a record for them. You can watch the TV ad below for yourself.
The New York based Grayscale, a subsidiary of Digital Currency Group, brought in $81.1 million in total investments for the third quarter, according to a company report published Thursday. Currently Grayscale’s nine cryptocurrency products are only available to accredited investors, not retail buyers.
- Bitcoin Trust
- Bitcoin Cash Trust
- Ethereum Trust
- Ethereum Classic Trust
- Horizen Trust
- Litecoin Trust
- Stellar Lumens Trust
- XRP Trust
- ZCash Trust
However, Investing in the funds themselves requires an income of at least $200,000 a year. Their Bitcoin Trust has in it $4.9 billion and $862.7 million in its Ethereum Trust. Along with $30+ million sitting in the rest of the Trusts. Below is Grayscale's investor profile by type.
3 days later on August 13, 2020 Galaxy Digital yet another investment management company in the digital asset, cryptocurrency and blockchain technology sector, Founded by ex Goldman Sachs partner Michael Novogratz published a full page ad in the Financial Times newspaper that read “Now is the time to invest in Bitcoin.”
In short, Institutional Investors have been buying up cryptocurrencies by the hundreds of millions for the past 2 years or more and are just now starting to bring out their investment products after they have billions locked up. Needless to say the time to buy was over the past 2 years during the bear market, if you're getting in now it's not too late but time is running out.
The Fear & Greed Index has updated and has been hovering in the 80's for weeks now. You know we're starting to experience Extreme Greed when you have family and friends approaching you to get into and I quote "the Bitcoin". Last time this happened we had the massive crypto crash of 2018. With that said I believe we have a lot more room to grow before something like that inevitably happens again.
There's one golden rule that you should always keep in mind and observe when you're investing: Never invest money that you can't afford to lose.