Grayscale Nears $10 Billion AUM, Institutional Demand for Bitcoin Heats Up

Grayscale, the New York-based investment company, is rapidly approaching the $10 billion Asset Under Management (AUM) mark.

The firm offers accredited investors the ability to invest in share indices, which are backed by cryptoassets. Their most popular product is the Grayscale Bitcoin Trust (GBTC), accounting for more than 80% of the AUM.

Michael Sonnenshein, the firm’s managing director, stated that the GBTC fund raked in $115 million on Nov. 12 alone. This milestone demonstrates institutional investors’ growing confidence in Bitcoin.

Sonnenshein has also stated that the Grayscale team has added $262 million in one week, the largest investor inflow in the company’s history. This is an increase of $47 million from their previous high.

LARGEST CAPITAL RAISE *WEEK* EVER