Cryptocurrency asset manager Invictus Capital saw significant growth in assets under management during the first quarter, highlighting the rapid uptake of digital assets among institutional investors.
Source: cointelegraph.com
Assets under management surged by 50% to $112 million in the quarter ending March 31, Invictus disclosed Thursday. The company’s Crypto20 index fund, a tokenized fund of the top-20 cryptocurrencies, registered 221% growth.
“Our Q1 report speaks volumes about the cryptocurrency market’s ongoing boom and the lucrative opportunity that structured crypto funds offer,” CEO Daniel Schwartzkopff said, adding:
“We see the most recent bull cycle—which coincides with greater institutional adoption—as a critical juncture in Bitcoin’s relatively short history and a signal that the broad adoption of cryptocurrencies as a global store-of-value is becoming a certainty for the medium term, with digital assets offering many improvements over assets that have traditionally filled the role, such as gold.”
Invictus Capital’s growth mirrored a tremendous bull cycle for the cryptocurrency market during the first quarter, as the total market capitalization of digital assets rose 134% to over $1.86 trillion, according to Coingecko data. The market is charting new all-time highs on Thursday, with total assets collectively valued at $2.46 trillion.
Institutional adoption of crypto-assets is also on the rise, with the latest weekly inflows report from CoinShares showing significant growth across Bitcoin (BTC), Ethereum (ETH) and smaller cap altcoins. Institutions now hold nearly $65 billion in assets under management, according to the calculations.
Grayscale remains by far the largest institutional manager of crypto funds. On Wednesday, the company reported a total of $49.8 billion in assets across its family of products.
