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US Insurers Invested $3 Million in Grayscale’s Crypto Trusts in Q1 2020
Six US insurers bought shares in Grayscale’s crypto trusts in the first quarter of 2021, according to financial analytics firm S&P Global. Combined, their investments amount to about $3.1 million. The investors bought shares in the Grayscale Bitcoin and Ethereum Trusts. These are publicly-traded trusts that use investors’ money to buy crypto. They are sort of like an actively-managed exchange-traded fund—and the closest thing to one in the US; the SEC has rejected previous applications and has not approved those currently under consideration. Institutional investors often prefer to invest in Grayscale’s ... (full story)