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Four other asset managers are investing in Bitcoin

New documents from the US Securities and Exchange Commission show that four large asset management companies have bought shares in Grayscale’s Bitcoin mutual fund, further demonstrating the increased institutional interest in the crypto industry.

As MacroScope reports on Twitter, the four investment companies have disclosed their shares in the “Grayscale Bitcoin Investment Trust” (GBTC) as part of the quarterly report of June 30, 2021.

Accordingly, the Illinois-based Clear Perspective Advisors owns 7,790 shares in GBTC, as from the new documents emerges.

Ohio-based Ancora Advisors in turn has 13,945 shares bought up. While these are relatively small sums of money for large asset managers, it does provide evidence that there is strategic intent behind this move.

the others both Investment firmsBoston Private Wealth and Parkwood have also decided to buy GBTC. The former increased its holdings from 88,189 shares to 103,469 shares, while the latter increased its holdings from 93,000 shares to 125,000 shares.

Large investment firms and commercial enterprises have now tasted blood and are becoming increasingly courageous and creative in their investments in the crypto market. The large chip manufacturer Intel recently acquired a considerable amount of shares in the Coinbase crypto exchange.

Institutions will invest more and more in cryptocurrencies in the coming months, provided the market continues last. The popular theory that the price cycle increases continuously over a period of four years gives every reason to be hopeful. The total market capitalization was last able to rise again above 2 trillion. US dollar swings up, which supports this thesis and suggests imminent gains.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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