North Carolina-based asset manager Kingfisher Capital has bought back 10,667 shares of the Grayscale Bitcoin Trust since it was recently registered with the US Securities and Exchange Commission (SEC).
The document, which was posted on the SEC’s website on Thursday, highlights Kingfisher Capital’s growing diversification. The Asset Manager is involved in hundreds of companies and funds in various sectors, from banking to energy.
Kingfisher is reportedly not participating in the Grayscale product as of November 2020, which means the purchase was fresh, possibly at a time when Bitcoin (BTC) was at or near its maximum.
Kingfisher states on its website that the mission is to “maximize value” for investors, which primarily puts wealthy families, business owners, foundations and professionals at risk.
Grayscale Bitcoin Trust, traded under the GBTC index, has become the preferred method of directly accessing digital assets. As reported by Cointelegraph, New York-based investment manager at Rothschild Investment Corporation increased its stake in GBTC to 30,454 shares as of December 31, 2020.
The leader said Wednesday that the Grayscales Bitcoin Trust’s total assets exceed $ 20 billion.
Grayscale products have become a magnet for institutional investors. Total investment in grayscale products was $ 3.3 billion in the fourth quarter of 2020, corresponding to an average weekly inflow of $ 250.7 million. Bitcoin funds were the most popular funds with an average of $ 217.1 million per week.