Bitcoin (BTC) And Ethereum (ETH) Enjoy Massive Institutional Interest
Interest in Bitcoin and crypto has been on the rise this year despite the massive volatility of the crypto market.
The bulls returned after the massive crash of BTC, and since April, things started to look better price-wise for the digital assets.
Now, last month, BTC suffered a strong correction, but this did not stop the optimistic predictions from pouring into the crypto space.
Institutional interest in Bitcoin and Ethereum is on the rise
One of the main goals in the crypto space this year was to trigger the mainstream adoption of digital assets.
Now, the institutional crypto investment company Grayscale has released the Q3 reports for this year, and this revealed something that might seem pretty surprising to some: an increased interest from the Wall Street in Bitcoin and Ethereum as well, according to the latest reports revealed by the online publication the Daily Hodl.
Grayscale offers a series of trusts that allow institutions to gain exposure to BTC and a long list of altcoins, including the following: ETH, XRP, BCH, LTC, XLM, ZEC, and ZEN.
The firm’s latest report shows an exponential jump in growth for BTC and ETH that began early this year.
According to Grayscale’s report, the most prominent surge took place back in July when $75 million poured into BTC is only a single day.
“Quarter billion-dollar inflows ($254.9 million) mark [the] strongest demand for Grayscale products since firm inception: Inflows tripled quarter-over-quarter, from $84.8 to $254.9 million, despite recent declines in digital asset market prices,” says the report.
Crypto mass adoption
Both Bitcoin and Ethereum made headlines not too long ago regaring the mass adoption of digital assets.
It’s been recently reported that from now on, millions of Apple Pay and Google Pay users can purchase crypto via Wyre.
The company’s new products will make purchases of BTC, ETH, and DAI really fast and much easier.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.