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Story of the World's Largest Crypto Asset Manager & Fundraising US $ 359

Written By Hanny & Melissa on Thursday, April 11, 2019 | Thursday, April 11, 2019

Grayscale is the world's largest crypto asset manager and subsidiary of Digital Currency Group. It managed to raise funds of US $ 359 million in 2018, an achievement amid a long bear market. A report from the company stated that 66 percent of the funds obtained were from institutions.

As the price of crypto assets, such as Bitcoin and Ethereum dropped dramatically at the end of last year, the demand for crypto asset classes declined sharply.

That is why Grayscale said that the appearance in the fourth quarter of last year was not good. However, it claims to still succeed in setting a new record in 2018.

Despite a decline in investment in digital assets in the fourth quarter, Grayscale raised US $ 30 million in funds over the past three months, so our total income in 2018 was worth US $ 359 million.

This has been the strongest income for a year since our business was established. Stressed Grayscale through the investment report of the digital assets he released.

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On February 14, Morgan Creek announced two pension funds in America along with a hospital, university funds and insurance companies investing US $ 40 million in its crypto funds.

The transaction was the first public investment carried out in America-based pension funds. Crypto investors react positively to the event and see the agreement has the potential to become the basis for the next wave of institutional investors entering the crypto sector.

Grayscale has also received substantial capital income from institutional investors over the past 12 months. An official report from Grayscale revealed that 66 percent of the US $ 359 million received, or around US $ 237 million, came from institutional investorswe see retirement accounts holding a large portion, around 40 percent, of total demand for Grayscale products in the fourth quarter, while institutional investors continue to be the dominant source of income in 2018, at 66 percent. Although the number of investments made declined in the fourth quarter, the percentage of investment held by institutional investors tends to be consistent throughout the year". Said the report.

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The $ 237 million US planted by institutions in the Grayscale crypto fund and US $ 40 million won by Morgan Creek from the Police Pension System and the Fairfax Employee Pension System can encourage large-scale institutional investors to consider crypto assets in the near future. He said (cryptomenow.com)

Previously, the Chief Investment Officer of Ari Paul Pathfinder venture capitalists and billionaire Mike Novogratz said, like retail investors, institutional investors tend to wait for other institutions to plunge before investing into a new asset class.

Apart from the strong correction experienced by crypto, it is very important for institutional investors to have the asset class supported by trusted custodians, regulated investment instruments and markets with good structures.

Institutional investors, pension funds and others are more careful participating in a new asset class or new market than retail investors.

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