North Carolina asset management company, Kingfisher Capital, has acquired 10,667 shares in the Grayscale Bitcoin Trust, according to the latest filing with the U.S. Securities and Exchange Commission (SEC). The asset manager apparently has exposure to hundreds of companies and funds across sectors ranging from banking to energy. The firm primarily comprises affluent families, business owners, institutions, and professionals. Kingfisher Capital’s Involvement in GBTC Signifies Increased Diversification Kingfisher Capital’s involvement in GBTC symbolizes the firm’s increased diversification of its investment portfolio. As of Nov. 2020, Kingfisher reportedly had no exposure to Grayscale’s product. This signifies the purchase was recent, possibly when Bitcoin (BTC) was at or near all-time highs. Grayscale kicked off last year with $2 billion in assets under management and ended with more than $20.2 billion. The 900% increase was driven mostly by demands from institutional investors such as hedge funds, endowments, and pension funds. 01/27/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products. Total AUM: $24.5 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $ZEC pic.twitter.com/hX9SfTRWAW — Grayscale (@Grayscale) January 27, 2021 The Grayscale Bitcoin Trust or GBTC became a preferred method for gaining direct exposure to the digital asset. The total investments into Grayscale products have reached $3.3 billion in the fourth quarter of 2020 that translated into average weekly inflows of $250.7 million. Meanwhile, its Bitcoin investment trust is the most popular fund that generates $217.1 million average weekly inflows. Many professional investors see it as an alternative to established safe-haven assets, such as gold, and a hedge against inflation. Grayscale Bitcoin Trust Popular Among Institutional Investors Grayscale Bitcoin Trust became a popular, publicly-traded way for investors to get exposure to cryptocurrency without actually holding the coins themselves. According to the asset manager, institutions made up 87% of Grayscale’s inflows for the full year. While the average size from those investors doubled in a matter of months. In the third quarter of 2020, investors were putting in roughly $3 million on average, and by the end of last year, investors had put an average of $6.8 million. Meanwhile, New York-based investment manager Rothschild Investment Corp. too recently invested added 30,454 shares to GBTC as of Dec. 31, 2020.
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