$217M Invested In Crypto As Grayscale Marks Its Best Week Following Nationwide Commercial Launch
The leading cryptocurrency asset management company – Grayscale Investments – has recorded its most significant fundraising week in its 7-year history.
Interestingly, the massive spike followed a nationwide advertising campaign the company ran in the U.S.
Grayscale Commercial Worked
As CryptoPotato reported a week ago, the digital asset manager planned to run a widespread advertising campaign in the United States to promote its Investment Trust and highlight the merits of investing in Bitcoin and other cryptocurrencies.
Although the initial message didn’t disclose extensive details, the campaign went live on Monday, August 10th.
The campaign is a quick 30-second commercial containing a brief history of the money, developments in the financial sector, and, naturally, the emerging digital assets trend and how people could invest through Grayscale.
Our new commercial debuts TODAY… Trust us: AUDIO ON! #GoGrayscale pic.twitter.com/hPhUgp7HiY
— Grayscale (@Grayscale) August 10, 2020
Founder and CEO of Grayscale, Barry Silbert, asserted yesterday that Grayscale had marked its “largest fundraising week EVER” with $217 million invested into the different Grayscale funds. He attributed the impressive results to the success of the advertising campaign by saying, “guess you liked the commercial!”
Thus, the company’s net Assets Under Management (AUM) continue growing with massive steps this year, even after the impressive Q1 and Q2 results.
As of this week, Grayscale has increased the AUM to nearly $6 billion. Somewhat expectedly, the Bitcoin Trust represents the majority of all holdings with $4.9 billion, while the Ethereum Trust follows with $863 million.
Grayscale Launches An Educational Tool
The cryptocurrency management firm recently launched an educational resource for financial advisors and wealth managers. Dubbed “The Digital Currency Toolkit for Financial Advisors,” it’s a free resource aimed to provide advisors with comprehensive data regarding cryptocurrencies and how they can apply it to counsel clients accurately on the matter.
The company noted that as the cryptocurrency field keeps growing, more people outside of the space are attempting to receive credible information. However, Grayscale admitted that there are many misconceptions and even blatant lies circulating that confuse and repel traditional investors.
With the toolkit, though, advisors can educate curious investors about Bitcoin’s history and past performance, mainstream acceptance and adoption, and how they can enter the field.
“Having been in this space since 2013, Grayscale Investments is committed to educating financial advisors and providing them with the tools they need to consider and decide how digital currencies may fit into their clients’ portfolios and investment strategies.
Given the uncertainty in today’s environment, investors are increasingly turning to assets like Bitcoin. Now is the time for advisors to better understand this asset class.” – commented Grayscale Managing Director Michael Sonnenshein.