CoinShares Fund Hits $1 Billion Milestone As Clients Request More Cryptocurrencies

In an update released August 20, 2020, CoinShares, a digital asset management company that provides financial services and products for professional investors, is seen at the top of the game as it hits 1,000,000,000 USD mark in assets under management for its exchange-traded fund (ETF) product.

The network gives room for investors to invest in XBT Provider products in a bid for them to get acquainted with the crypto space without having to hold tangible crypto or manage private keys.

In the year 2015, the first exchange-traded BTC ETF was launched, while its first ETH ETF went live in 2018.

Track live crypto price of 10000+ coins!

Since its launching, Ethereum and Bitcoin have recorded massive successes in the market and this year, the digital currencies have made more breath-taking milestone.

The financial disposition of the world has made diverse firms consider Gold and Bitcoin as alternative to equities and cash.

At the start of the year, Paul Tudor Jones disclosed how he has over 1% of his company’s Tudor Investment’s AUM invested in Bitcoin Futures.

In the early days of August, Michael Saylor, CEO and founder, MicroStrategy said that his firm bought BTC worth of 250,000,000 USD as part of its treasury fund.

Michael now calls Bitcoin the future of money, even though he had earlier referred to the crypto king in 2014, as a fashion that’ll soon go into extinction.

Related:  Here’s What’s Next for Bitcoin and One Ethereum Competitor, According to Crypto Analyst Michaël van de Poppe

According to CoinShares, an unattractive macroeconomic viewpoint and approval from popular banks and their top finance officials have made its customers to make huge stakes in the crypto market, even though it has been captioned unpredictable, unfettered and chancy from onset.

Frank Spiteri, Chief Revenue at CoinShares, who is also the leader of XBT Provider Platform, reveals that BTC and other digital exchanges will continuously look attractive to investors, most especially at this time when the world investment atmosphere has changed, necessitating a substitute stores of value. Thus, the community now seeks succor in digital currencies.

Asset managers, brokers and traditional banks are in dire need of digital currency such as Bitcoin as it is fondly requested by their customers, Frank buttressed.

CoinShares CEO, Jean-Marie Mognetti, has affirmed that the billion dollar mark reached by BTC attests to the company’s credence that the giant crypto and other crypto coins have important functions to perform in investment of different organizations.

Download MAXBIT Android App, Your best source of all crypto news!

Google Play

Source link

Share this article: