Wellness

Bitcoin frenzy drives 900% surge in assets for crypto investment firm Grayscale

6 days ago   |   By Business Insider

Dado Ruvic/Reuters
Crypto investment firm Grayscale enjoyed a 900% surge in assets under management last year as bitcoin's rally drove multibillion-dollar inflows. The firm's assets ballooned to $20.2 billion from $2 billion in 2020, according to a Thursday report. Grayscale's Bitcoin Trust drove most of the inflows, growing to $17.5 billion AUM from $1.8 billion. Institutional investors' warming to bitcoin also aided the firm. Such funds counted for 86% of flows into Grayscale products in 2020, as well as 93% of all fourth-quarter inflows. The firm's rapid expansion came as bitcoin spiked...
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