"We are seeing a new group of investors who are Ethereum-first and in some cases Ethereum-only," Michael Sonnenshein told Bloomberg.
The Guggenheim Macro Opportunities Fund will now be able to invest up to 10% of its net asset value in the Grayscale Bitcoin Trust.
A Long Reads Sunday reading of Grayscale’s recent “Bitcoin Investor Survey.”
The crypto lender is only the second firm to disclose such a large GBTC stake, after Three Arrows Capital.
Grayscale Investments bought $300 million more in cryptocurrencies over the last 24 hours.
Digital asset manager Grayscale Investments has posted its best quarterly results to date, having brought in just over $1 billion in investment across all of its cryptocurrency products.
Bitcoin advanced to fresh two-month highs on Monday while ether clocked three-week highs after Grayscale reported that its Ethereum Trust has become an SEC-reporting company.
Grayscale now has six publicly traded crypto investment vehicles, all trusts.
Crypto investment firm Grayscale has told the SEC the dollar value of assets in its flagship bitcoin fund increased 90% to over $1.6 billion.
Bitcoin Cash Trust and Litecoin Trust will carry the tickers BCHG and LTCN once they commence OTC trading.
Two consecutive record quarters for Grayscale mean cumulative capital inflows have doubled in the past six months to $2.6 billion.
Three Arrows has taken a large bet on GBTC but the halcyon days of the Grayscale premium flip may be numbered.
Three Arrows Capital now holds about 6.26% of the shares in the Grayscale Bitcoin Trust, or more than 20,000 bitcoins' worth.
Shares in the Grayscale Bitcoin Trust climbed 14% on Wednesday as bitcoin's price rallied toward $9,000.
The crypto investment firm says it raised almost as much in Q1 2020 as it did over the whole of 2019.