PayPal has been hogging the headlines and twitter feeds with their belated attempt at trying to stay relevant.
Sorry but it just doesn't excite, in fact it is almost sad to watch.
PayPal has been around since 1998, thats back in the day when Hashcash, e-gold, b-money, bit gold where still a thing.
Early e-currencies That Lay the Foundation for the Development of Bitcoin The Bitcoin network was not launched until January 2009.
A Brief Bitcoin History Lesson - The Genesis Block So PayPal predates Bitcoin and would have been innovative and disruptive in it's day. Thats what makes it so sad.
Enough about PayPal.
I thought I would post about a company, who for better or worse, is actually having a material effect on the grand daddy of them all BITCOIN and some other coins and tokens to boot.
Grayscale Investments
Grayscale recently released their Grayscale Digital Asset Investment Report for 3Q20 , which was the firm’s third consecutive record-breaking quarter.
If you have never heard of Grayscale Investments, then you can read some of my previous posts and see what they have been up to since 2013.
This one got me into trouble with PUBLISH0X and not because I spelt it Crytpo. Only just noticed the spelling mistake.
Grayscale Launch Ad Campaign to Bring Crypto to the Masses A week later there was the followup.
Grayscale Investments Had The Best Week EVER Following Crypto Ad Screening Then MicroStrategy get in on the act, small potatoes really but made a big splash.
Nasdaq Listed MicroStrategy Buys 0.1% Of The Bitcoin Supply Then we got to learn what an Accredited Investor was and some other interesting stuff
Valuing Bitcoin For Accredited Investors and the followup. It is what the big boys use.
Valuing Bitcoin Using Supply And Demand Metrics - For Accredited Investors
Grayscale Investments 3rd Quarter Highlights
- Grayscale raised $1.05 billion into its investment products, their largest ever quarterly inflow. That brings year-to-date investment into the Grayscale suite of products to over $2.4 billion, which is more than double the $1.2 billion cumulative inflow into the products from 2013-2019.
- The most notable uptick in growth in Q3 came from products that hold alternative assets, with unprecedented demand for Grayscale® Digital Large Cap Fund Grayscale® Bitcoin Cash Trust and Grayscale® Litecoin Trust in particular. On average, the aforementioned products saw inflows increase by more than 1400% quarter-over-quarter.
- Grayscale® Bitcoin Cash Trust has seen its assets under management surge from $1.9 billion to $4.7 billion YTD, which includes $719.3 million in 3Q20 inflows.
- Grayscale® Ethereum Trust has attracted the attention of a new segment of Ethereum-only institutional allocators, with over 17% of inflows into the Trust coming from new institutional investors in 3Q20.
To get the full report you need to submit the following request to Grayscale Investments
Grayscale Ethereum Trust Now SEC Reporting Company
More good news to report.
We are pleased to share that Grayscale® Ethereum Trust’s Registration Statement on Form 10 is now effective. This means that Grayscale Ethereum Trust* has become an SEC reporting company. The Trust’s shares are now registered with the SEC, pursuant to Section 12(g) of the Exchange Act of 1934, as amended (the “Exchange Act”).
With this update, accredited investors** who purchase shares in the Grayscale Ethereum Trust private placement will have an earlier liquidity opportunity, as the statutory holding period will be reduced from 12 months to 6 months, provided the other requirements under Rule 144 of the Securities Act of 1933, as amended, have been satisfied.***
For more information, please refer to the press release. We also encourage you to view our FAQ page for further details on the Form 10 process and its effect on Grayscale Ethereum Trust investors.
To the extent that you have any questions, please feel free to reply directly. If you're an accredited investor and are interested in gaining exposure to Ethereum, we invite you to consider Grayscale Ethereum Trust, which is currently open for daily subscription.
We look forward to continuing to serve you as we celebrate this important milestone.
All the best,
The Grayscale Team
*The Grayscale Ethereum Trust Private Placement is offered to accredited investors.
**An accredited investor, in the context of a natural person, includes anyone who either earned income that exceeded $200,000 (or $300,000 together with a spouse) in each of the prior two years, and reasonably expects the same for the current year, OR, has a net worth over $1 million, either alone or together with a spouse (excluding the value of the person’s primary residence).
***The holding period reduction becomes effective after Grayscale Ethereum Trust has been a reporting company for at least 90 days and has satisfied the other requirements under Rule 144 of the Securities Act of 1933, as amended.
Suck Eggs PayPal
Grayscale Investments have been in the game since 2013.
You have left you run a bit late.
Maybe if you had bought COINBASE or Binance, it would have been material and worthy of the headlines . Or even better still if BINANCE or Coinbase had bought you. Sorry but that is just plain silly, that would not have made any sense. But what a headline it would have made. That would have been a splash and a half.
The End
One Coin to rule them,
One Coin to find them,
One Coin to bring them all,
and in the darkness bind them.
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