For a long time, the main goal for cryptocurrencies has been to get institutional investors into the market. Since, this would mean the entry of billions of dollars to the world of cryptocurrencies, with the solidity that this would provide. And it seems that it is finally being achieved, now that Grayscale raised 1 billion dollars in the third quarter of 2020, as it commented in the Tweet of the day Anthony Pompliano:
One billion dollars for Grayscale
It is impossible to underestimate the importance of institutional investors to the crypto market. And it is that, for a long time, large investment funds have been prohibited from entering the world of cryptocurrencies, due to various reasons.
On the one hand, crypto assets do not have the necessary regulation so that institutional investors can put their capital legally in digital assets. And on the other hand, for these investment funds, the inconvenience that the storage and safeguarding of cryptocurrencies would generate outweigh any advantage that their acquisition may have.
Two problems that have begun to be overcome thanks to Grayscale. A company legally formed in the United States, which serves as an intermediary between institutional investors and the crypto market.
Thus, if an investment fund wants to acquire Bitcoin or Ethereum, it only has to enter its money into Grayscale and this company will be in charge of acquiring and safeguarding them. Thanks to this, in the third quarter of 2020 alone, Grayscale managed to raise 1 billion dollars.
«Grayscale raised $ 1 billion in the third quarter, the best quarter in its history. It’s hard not to be optimistic«.
In this way, and as Anthony Pompliano refers, Grayscale would be the best example of the interest that exists in the financial markets in cryptocurrencies. Well, despite the impediments that may exist to its acquisition, large institutional investors invested up to a billion dollars in this market alone in the last three months.