Institutional investors have access to Bitcoin and other cryptocurrencies, directly and indirectly, through crypto funds. US Global Investors has revealed that it has purchased shares in the Grayscale Bitcoin Trust, giving the financial institution indirect exposure to the major cryptocurrency. The investment manager disclosed this latest development in a filing with the US Securities and Exchange Commission (SEC) yesterday. According to the SEC filing, US Global Investors purchased GBTC for a value of 532 389 $ during the second half of the year. The filing showed that GBTC shares have been added to the investment manager’s three mutual funds. US Global Investors added 302 ($ from GBTC to its Gold and Precious Metals Fund, and 222 532 $ of stock to its World Precious Minerals Fund. Finally, the company added 47 958 $ of shares to its Global Resources Fund. Following this latest development, GBTC now represents 0,19% of US Global Investors’ total assets in the three mutual funds. Institutional investors have gained direct and indirect access to Bitcoin over the past few months. Some financial institutions cannot hold Bitcoin directly. They therefore gain exposure to cryptocurrency through other investment vehicles. Peter Schiff said the move was not surprising as the CEO of US Global Investors also runs Hive Blockchain. https://twitter.com/PeterSchiff/status/1432395868490117121 US Global Investors is known for investing in the commodities markets, focusing on assets such as gold, crude oil, minerals and others precious metals. Bitcoin’s performance over the past year has convinced several institutional investors to view it as an inflation hedge. Bitcoin hit an all-time high near the low 47 000 $ in April. However, the price fell over the summer, with Bitcoin losing more than 47% of its value to a given time. The market has slowly recovered and Bitcoin is currently trading above 47 08$ per coin. More than expected Institutional investors are entering the cryptocurrency market over the next few years, which could drive the price of Bitcoin higher. The approval of a Bitcoin ETF in the US could also attract more institutional investors to the market. The post US Global Investors invest more than 222 000 $ in the Grayscale Bitcoin Trust appeared first on Buy Bitcoin.