Grayscale CEO Michael Sonnenshein says institutional investors are also exhibiting a growing interest in diversifying their investments by choosing other crypto assets besides bitcoin. Sonnenshein, who was recently appointed to the CEO position, made the comments just before the revelation that the company had raised more than $700 million in a single day.
The asset raised, which according to the CEO is the largest single-day asset raised so far, follows Grayscale’s recent release of its Q4 report. According to that report, Q4 of 2020 had been a successful one with a total of $3.3 billion in investments being recorded across the company’s range of products.
However, in an earlier tweet, the CEO asserts that institutional buyers are trying to minimize risks by spreading their exposure. Sonnenshein says:
While bitcoin remains most of our investors’ first step into space, we’ve seen an uptick in interest from allocators looking for broad exposure, avoiding the need to pick winners and avoid…