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 trusts ... (full story)