Source: Business Insider
Grayscale Investments had $608 million in inflows in 2019, more than the previous six years combined. It’s the largest asset manager for digital currency such as bitcoin. Almost three-quarters of Grayscale’s 2019 assets raised came from institutional investors like hedge funds, the company said. Watch Bitcoin trade live on Markets Insider . Read more on Business Insider. It looks like cryptocurrency is here to stay. In 2019, Grayscale Investments, the largest asset manager for bitcoin and other cryptocurrency, saw $608 million in inflows, its best year ever. In addition, the record number surpassed its cumulative investment from the last six years combined, the company said in a press release . The biggest portion of Grayscale’s 2019 investments came from institutional investors, primarily hedge funds, according to the report. Institutional investors including hedge funds accounted for 71% of inflows in 2019, up from 51% in the previous year. Grayscale also grew its investor base in 2019, bringing in $146.9 million from new clients.