Crypto fund up almost 300 percent – outperforms Wall Street by far
Jul 09, 2019
The Grayscale Investments’ Bitcoin Trust has risen almost 300 percent since the beginning of the year, numbers from the Wall Street Journal shows.
The 296 percent that the fund has gained can be compared with the more traditional stock market indexes such as the S&P 500 and Global Dow, which are up 18.7 and 12.9 percent, respectively, Cointelegraph reports.
Manages over $2,5 billion
Grayscale Investments’ Bitcoin Trust is a fund that invests in bitcoin and buys and sells the cryptocurrency on American exchange OTCQX. The bitcoin is traded over the counter, which in short means that big players sell and buy from one another outside the regular market.
The news that a crypto fund outperforms Wall Street comes at the same as bitcoin has had a good start to the week. On Tuesday, the price of the cryptocurrency has been stable above $12,000 and has even approached $13,000.
The question is whether this news will bring the price of the world’s biggest cryptocurrency even higher.