Cryptocurrency-focused investment firm, Grayscale Investments, says pension funds and endowments are showing interest to continue the current crypto rally, Bloomberg reports. As of press time, Grayscale's Bitcoin Trust already accumulated over 3% of the total supply of bitcoin (EXANTE: Bitcoin).
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The newly-appointed Chief Executive of Grayscale Investments, Michael Sonnenshein, said the size of institutional' allocations is also growing rapidly.
"We have started to see participation not just from the hedge fund segment, which we have long seen participation from, but now it is recently from other institutions, pensions and endowments," Sonnenshein added.
Sonnenshein notes the firm also plans to expand its current staff of 24 workers and to introduce half a dozen new products this year.
Currently, Grayscale has over $25 billion in assets under management (up from $2 billion a year ago). Earlier in January, Grayscale announced the liquidation of all XRP positions in the Grayscale Digital Large Cap Fund. The firm used cash proceeds to purchase bitcoin (EXANTE: Bitcoin), ether (ETH), litecoin (LTC), and bitcoin cash (BCH).
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