JPMorgan: Bitcoin Institutional Inflows in October are “Impressive”

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Leading Bitcoin and crypto-asset fund manager Grayscale has seen a strong influx of investment over recent months. JP Morgan analysts think that this may be a sign that Bitcoin is acting as an alternative to gold. JP Morgan noted that while capital inflows have slowed for gold ETFs, Grayscale is seeing its Bitcoin holdings explode higher. Bitcoin’s Institutional Inflows Are Impressive Leading Bitcoin and crypto-asset fund manager Grayscale has seen a strong influx of investment over recent months. JP Morgan analysts recently released a report acknowledging these trends. The analysts noted that Grayscale’s October data, specifically regarding the Grayscale Bitcoin Trust, suggests that BTC may be increasingly acting as an alternative to gold. Gold has long been seen as the traditional hedge against inflation, though Bitcoin may be gaining steam according to JP Morgan: “What makes the October flow trajectory for the @Grayscale #Bitcoin Trust even more impressive is its…

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