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Grayscale Raises $700M+ in a Day, Its Largest Daily Asset Raise Ever
In Q4 2020, the company raised $3.3 billion across its cryptocurrency investment vehicles.
Updated Sep 14, 2021, 10:57 a.m. Published Jan 17, 2021, 8:11 p.m.
Michael Sonnenshein, CEO of digital asset manager Grayscale Investments, tweeted the firm raised more than $700 million on Jan. 15, seeing increased momentum from Q4.
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1/15/2021 was also our largest single asset raise day, ever.
— Michael Sonnenshein (@Sonnenshein) January 16, 2021
- In Q4 2020, the company raised $3.3 billion across its cryptocurrency investment vehicles, a record for the digital asset manager and further evidence of this rally’s institutional base.
- The Grayscale Bitcoin Trust, which is the company's most popular product, led the pack in Q4 with an average of $217 million raised every week.
- The latest data from Grayscale shows on Jan. 15 the firm has a record $27.1 billion under management; it entered 2020 with just $2 billion.
- In a tweet, Eric Balchunas, senior ETF analyst at Bloomberg, called Grayscale the "ARK" of crypto.
- "The similarities are pretty amazing. I think both hung in relative oblivion for 3-4 yrs, had like $2b 12mo ago ago and then boom, 10x increase. Both defy trends: ARK w stock picking and grayscale w very high fees and 20%+ premiums,” Balchunas tweeted.
- ARK refers to ARK Investment Management, an asset-management firm led by Cathie Wood, and its flagship ARK Innovation ETF (ARKK), which over the course of a year has returned more than 171%, seeing its assets under management grow by more than tenfold, to $21.8 billion.
- New York-based, SEC-regulated Grayscale is owned by Digital Currency Group, the parent company of CoinDesk.
Read more: Grayscale’s Crypto Products Raised Over $3B Last Quarter, the Most Ever
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