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Institutional Money Continues Surging Into Cryptos

It was less than 2 weeks ago that we reported Voyager Digital’s assets under management had risen from $5 million a year earlier to $200 million. In a further sign of a continued flood of money into crypto assets, Voyager Digital has announced that assets under management (AUM) has crossed $500 million in the past 24 hours.

Voyager Digital Ltd. is a publicly-traded, licensed crypto-asset broker that provides investors with a turnkey solution to trade crypto assets.

During the past year, while Voyager’s AUM grew from $5 million to $200 million, crypto investment firm Grayscale saw assets under management surge tenfold as wider adoption of bitcoin drove billions of new dollars into its trusts.

The firm’s assets lept to $20.2 billion from $2 billion last year, according to a quarterly report published this week. Grayscale’s Bitcoin Trust garnered the bulk of the inflows, surging to $17.5 billion from $1.8 billion in AUM as the popular cryptocurrency’s price soared higher. On average, the Grayscale’s bitcoin trust averaged in inflow of $90 million per week.

Institutional investors’ newfound interest in cryptocurrencies was also a boon for the entire cryptocurrency industry. Many market experts see no end in sight for continued instiutional money flowing into the sector.

The rally accelerated in the fall following MicroStrategy and Square revealing that they purchased bitcoin and opened the door for various other public firms to do exactly the same. PayPal’s announcement that it will permit users to purchase as well as sell cryptocurrencies further lifted prices in late October.

“The significant growth in our assets in such a short time frame shows the power of the Voyager model,” said Steve Ehrlich, Co-founder and CEO of Voyager. “Voyager’s AUM continues to grow exponentially, as well as the growth of daily net deposits and new accounts on the platform.”

About Voyager Digital Ltd.

Voyager Digital Ltd. is a crypto-asset broker that provides retail and institutional investors with a turnkey solution to trade crypto assets. Voyager offers customers best execution and safe custody on a wide choice of popular crypto-assets. Voyager was founded by established Wall Street and Silicon Valley entrepreneurs who teamed to bring a better, more transparent and cost-efficient alternative for trading crypto-assets to the marketplace.

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