World’s largest crypto investment manager tops $10 billion in assets

World's largest crypto investment manager tops $10 billion in assets

The world’s largest digital currency asset manager Grayscale said on Wednesday its assets under management soared to a record $10.4 billion.

Bitcoin on Wednesday jumped to $18,483 BTC=BTSP, the highest level since December 2017.

“While we’re only midway through the fourth quarter, I can certainly share that momentum has continued to carry through to the fourth quarter and probably accelerated a bit to what we have seen in Q3,” Michael Sonnenshein, managing director at Grayscale told Reuters in an interview. “For a lot of investors, bitcoin has a lot of staying power and it has overcome so many challenges and so many instances when it has been called dead.”

Grayscale’s assets grew 76% from $5.9 billion at the end of the third quarter.

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