Currency Economy

LedgerPrime invests $50 million in Bitcoin

Cryptocurrency (Mar 12, 2021 07:00AM ET) LedgerPrime invests $50 million in Bitcoin

LedgerPrime invests $50 million in Bitcoin

It is becoming increasingly harder to keep up with the number of institutional players throwing millions at Bitcoin. LedgerPrime is the latest to make the move into the digital space, with a $50 million investment in Bitcoin and Ethereum.

According to a filing with the Securities and Exchange Commission, the firm sold $49.5 million worth of securities to invest in digital assets. The firm’s President and Chief Investment Officer, Shiliang Tang revealed that the purchase was by nine clients.

Despite the February dip, it appears new investors are still interested in joining the digital asset train.

Established in 2017, LedgerPrime describes itself as “a quantitative and systematic digital asset investment firm.” The company is owned by Ledger Holdings Inc., which is also the owner of LedgerX.

LedgerPrime has been making some interesting moves in the crypto space lately. A few days ago, the firm purchased the T3i BitVol Index. The Index has often been dubbed the Bitcoin “fear gauge” by experts. It tracks the market movements of the digital asset.

Investors can’t seem to have enough of the so-called digital gold. A few days ago, an exec of Goldman Sachs (NYSE:GS) told Reuters that its cryptocurrency trading desk has been met by a lot of positive reactions from investors.

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