The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Wall Street Buying Bitcoin (BTC) at Blistering Pace Despite Warning From Goldman Sachs

by Daily Hodl Staff
May 28, 2020
in Bitcoin
[the_ad id="93550"]

New data shows institutional investors are buying Bitcoin (BTC) at a remarkable rate.

Market researcher Kevin Rooke is tracking the Grayscale Bitcoin Trust (GBTC), which gives institutional investors a secure way to gain exposure to BTC without having to buy the underlying asset itself.

GBTC is fully backed by real Bitcoin, and according to Rooke, the pace at which Grayscale is buying BTC now outstrips the new supply of the leading cryptocurrency.

“Grayscale’s Bitcoin Trust bought 18,910 Bitcoins since the halving. Only 12,337 Bitcoins have been mined since the halving.”

Source: Kevin Rooke

Referening a new report from Goldman Sachs that concludes Bitcoin is not an asset class nor a viable investment, Rooke comments,

“Wall Street wants Bitcoin, and they don’t care what Goldman Sachs has to say.”

The firm’s consumer management and investment division cites the cryptocurrency’s volatility as a key reason investors should avoid BTC, despite the fact that Bitcoin’s returns over the last decade far outpaced every other asset class by a wide margin.

[the_ad id="95413"]

Goldman’s analysis sparked a deluge of criticism from crypto leaders and investors who called aspects of the report hypocritical, out of context and out of date.

Source: Goldman Sachs

According to Grayscale’s Q1 report for 2020, 88% of all investments in the firm’s crypto offerings are coming from institutional investors, dominated by hedge funds.

“Grayscale raised $503.7 million in 1Q20, nearly double the previous quarterly high of $254.8 million in 3Q19. New investors accounted for $160.1 million in inflows. Grayscale Bitcoin Trust and Grayscale Ethereum Trust both experienced record quarterly inflows of $388.9 million and $110.0 million, respectively.”

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • Forest Protocol Redefines Web3 Playables, Launching IDO on Binance Wallet
    August 31, 2025
  • Ethereum-Based Meme Project Pepeto (PEPETO) Surges Past $6.5 Million in Presale
    August 29, 2025
  • SKALE Labs Launches SocialFi Incubator To Fund the Next Generation of Viral Web 3.0 Social Applications
    August 28, 2025
  • ECM Blockchain Sets a Landmark As Bangladesh’s First Global Blockchain Project
    August 28, 2025
  • GCL Subsidiary, 2Game Digital, Partners With KuCoin Pay To Accept Secure Crypto Payments in Real Time
    August 28, 2025
  • USDT0 and XAUt0 Are Now Live on Polygon
    August 27, 2025
  • From Zero to Crypto Hero in 25 Minutes – Changelly Introduces a Free Gamified Crash Course
    August 27, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$109,113.23
$109,113.23
0.33%
Ethereum
$4,461.63
$4,461.63
2.65%
BNB
$866.60
$866.60
0.95%
Solana
$205.06
$205.06
2.13%
XRP
$2.81
$2.81
0.15%

Spotlight

  • 1,100,000 Americans Hit by Massive Data Breach As Email Addresses, Names, Dates of Birth and More Exposed
    August 24, 2025
  • Low-Cap Altcoins To Ignite Fast Upside Move After Bullish Fed Signal, Predicts Analyst Kevin Svenson
    August 24, 2025
  • Crypto Strategist Predicts Over 500% Moonshot for XRP, Says People Will Talk About Payments Altcoin Soon
    August 24, 2025
  • President Trump-Linked World Liberty Financial Announces WLFI Token Launch on Ethereum (ETH) Mainnet
    August 24, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl