2020-9-29 13:28 |
Record fiscal stimulus has pushed wealthy investors to invest in Bitwise's bitcoin fund as a means to hedge against inflation.
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Digital asset investment products recorded outflows last week for the first time since mid-June, CoinShares reported.
Institutional interest in Grayscale Bitcoin Trust continues to dwindle 10 months into the crypto bear market.
The fund aims to compete with Grayscale's Bitcoin Trust and others by offering a 50 basis point lower expense ratio.
Galaxy Digital's institutional bitcoin fund raised an average of $1.6 million from its 33 unnamed investors.
Formed in 2013, Pantera’s was the first U.S.-based bitcoin fund.
The bitcoin fund is being launched by micro-investment app provider Raiz Invest Australia.