Grayscale, the New York-based investment company, is rapidly approaching the $10 billion Asset Under Management (AUM) mark.
The firm offers accredited investors the ability to invest in share indices, which are backed by cryptoassets. Their most popular product is the Grayscale Bitcoin Trust (GBTC), accounting for more than 80% of the AUM.
Michael Sonnenshein, the firm’s managing director, stated that the GBTC fund raked in $115 million on Nov. 12 alone. This milestone demonstrates institutional investors’ growing confidence in Bitcoin.