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Grayscale exec claims firm raised $85 million from investors in Q2

Biraajmaan Tamuly

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Source: Pixabay

Grayscale Bitcoin Trust is one of the most recognized institutions for digital currency investments, providing secured access and seamless exposure to the virtual asset class.

In a recent interview, Rayhaneh Sharif-Askary, Grayscale’s Director of Sales and Business Development, claimed that the investment in the firm’s products had doubled in Q2 and investors were consistently coming back to the platform. $85 million had already been raised in Q2, with a significant percentage of it coming from institutional investors.

“Institutional investors are investing with us all the time,” Sharif-Askary claimed, shrugging off speculations that such investors were not active in the virtual asset market. Grayscale catered to various investors that demanded the ownership of crypto-assets in the form of securities. She said,

“I get asked this a lot; there is this rhetoric in media of when institutional investors are going to get involved, when they are gonna start investing. It’s ironic because we see institutional investors investing with us all the time and that’s been the case for a long time now.”

The Director of Sales also expressed her joy at the recent launch of Bakkt’s derivatives platform, saying that she was “thrilled to see more on-ramps” that can amass in more institutional investors. Sharif-Askary also commented that investments flowing into altcoins’ trust also recorded significant improvement as users were now also comfortable with a new asset class, besides Bitcoin.

Recently, Grayscale Investments had announced that the organization would be resuming private placement of its shares. The private placement established by the trust is offered on a periodic basis to its users but now, it would be available to recognized investors on a daily basis.

According to the Director of Sales, Grayscale’s investment objective is to improve the value of its shares and resonate with the real-time valuation of Bitcoin, for reduced fees and expenses on the platform.

Biraajmaan is a full-time journalist at AMBCrypto covering the US market. A graduate in Automobile engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

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