Largest crypto investment manager tops US$10 billion in assets

The world's largest digital currency asset manager Grayscale said on Wednesday its assets under management soared to a record US$10.4 billion , bolstered by the continued rise in investment inflows as well as the surge in the price of bitcoin.

Bitcoin on Wednesday jumped to US$18,483 , the highest level since December 2017. It has appreciated about 160per cent this year and gained 17per cent in the last three days.The virtual currency is now close to its all-time peak of just under US$20,000 at the height of its retail investor-fueled 2017 bubble.

The investment manager recorded its largest ever inflows of more than US$1 billion in the third quarter, according to its quarterly update. Since the beginning of 2020 to the third quarter, investments into Grayscale reached US$2.4 billion, more than double the US$1.2 billion cumulative inflows into its funds from 2013-2019.

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