Deep-pocketed Investors Added $429 Million In The First Week Of December
Institutional and high-grade investors pumped $429 million into cryptocurrency funds and products in the first week of December, a Reuters report shows. This is the second-highest on record, pushing their total assets under management to $15 billion according to CoinShares.
With crypto and Bitcoin outperforming traditional assets, institutions are training their eyes on cryptocurrencies especially Bitcoin. Benefiting from this influx are established digital asset managers like GrayScale Investments. The DCG-managed firm is one of the largest in the world managing over $12 billion worth of high-performing assets. In the same period, investors channeled $336.3 million into Grayscale’s trusts. Accompanying this shift is the admission that cryptocurrencies are here to stay and their willingness to learn more about these projects.
Impact on Crypto Prices:
Bullish. While Bitcoin and crypto prices are ranging, the recent surge in prices is different from the speculative rise of late 2017. Today’s liquidity is better. With institutional capital flowing to different assets, cryptocurrency valuation stands to expand in the coming days.
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