Grayscale: Why Bitcoin Will Grow Again

For Shades of grey, the price of bitcoins and crypto-currencies are expected to increase further.

The prediction comes from David Grider, who recently became head of research at Grayscale. David Grider trained at Fundstrat and before that he founded Aenigma Capital.

Now he has become an active member of Grayscale Investment, a company that manages perhaps the largest amount of crypto assets for institutional investors.

Since the last update on August 11, its assets under management total $ 41.9 billion, including nearly $ 30 billion in the Grayscale Bitcoin Fund.

In an interesting interview with Business intern, David Grider clarified the reasons why bitcoin and cryptocurrencies will rise further:

“My take was that this was a mid-cycle pullback in a larger bull market cycle. I think this fits in with the macroeconomic narrative being at the start of a recovery. after the Covid crisis ”.

In addition, the fact that some traditional institutions such as JP Morgan and Wells Fargo are starting to bring cryptocurrency-related products to their customers that can only be of benefit to the industry.

But Grider was also optimistic about the DeFi sector. Grayscale recently launched a dedicated fund, the Grayscale DeFi Fund, which is described by the new head of research as follows:

“It’s almost like this FinTech 2.0 access exposure vehicle for this asset class,” he said of the DeFi fund. “I am very optimistic in this area and will continue to be.”

Grayscale targets Bitcoin ETFs

Grayscale has certainly been one of the most proactive companies tap into demand from institutional investors.

His challenge now is to also launch Bitcoin ETFs. To do this, Grayscale turned to David Lavalle, Global Head of ETFs.

Just yesterday in an interview with CNBC, LaValle seemed very optimistic about the impending approval of Bitcoin ETFs:

“The story is no longer if there is going to be a bitcoin ETF but when there is going to be a bitcoin ETF”.

When the SEC begins to approve bitcoin ETFs, Grayscale could convert its Bitcoin Trust into an ETF. At this point, a new entry from institutional investors is to be expected, which can only be good for the price of BTC and, ultimately, for the entire crypto industry.

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