Altcoin News: Grayscale: Lack of Institutional Investors in the Crypto Market Is a Myth
The Grayscale executive claims that investments in their products doubled in the second quarter and institutional investors use their services “all the time”.
In a conversation with The Block, Grayscale Sales and Business Development Director Rayhaneh Sharif-Askary said the firm raised about $85 million in the second quarter, 84% of which was invested by institutional investors.
According to her, the lack of institutional investors in the cryptocurrency market is nothing more than a myth.
“I get asked this a lot; there is this rhetoric in media of when institutional investors are going to get involved, when they are gonna start investing,” she said. “It’s ironic because we see institutional investors investing with us all the time and that’s been the case for a long time now.”
Commenting on the start of trading on the Bakkt platform supplying bitcoin futures, Sharif-Askary said that she was glad to see new channels to attract institutional investors.
“We are a lean team, we can’t be the only one running around educating investors and providing access to this asset class,” she added.
Sharif Askari also emphasized the growing interest of such investors in altcoins. About a quarter of Grayscale’s investments in the second quarter were invested in altcoin-linked trusts. According to the manager of Grayscale, this may mean that investors are starting to get used to cryptocurrencies as a new class of assets. “It’s great to see diversification,” she said.
Author: Marko Vidrih