One of the main characteristics of Bitcoin (BTC) is its decentralization and its relative “independence” from the financial system. However, as it is a scarce good and of increasing relevance in the market, large financial companies have already used their capital to accumulate large amounts. Five fund managers in particular dominate the majority of the crypto market in the United States, with a capitalization of $ 46 billion in digital assets under management.
The most prominent firm in this select group is Grayscale. Born in 2013, the financial company is exclusively dedicated to crypto currencies and aims to become one of the most important institutions of the future. Grayscale is by far the largest manager in the North American crypto ecosystem: over $ 40 billion in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Stellar (XLM), Zcash (ZEC) and Horizen (ZEN).
In recent months, Grayscale has greatly expanded its range of financial instruments, recently filing a formal application with the United States Securities and Exchange Commission (SEC) to launch an exchange-traded Bitcoin fund (ETF).
Second, comes Pantera Capital Management. This financial company has a history of 18 years in the market, and in recent years it has been ahead of the emerging market. Currently, it manages approximately $ 4 billion.
Bitwise Asset Management is the third financier on the list. The firm was born in 2017 oriented to cryptocurrencies, in full boom of retail investments. With more than a billion dollars under management, BTC and ETH funds stand out among their services.
Galaxy Digital ranks fourth. The company led by Mike Novogratz manages about $ 800 million, mainly concentrated in the two largest cryptocurrencies on the market. Like Grayscale, it has also filed an application with the SEC to launch a Bitcoin ETF.
Finally comes Wave Financial, which manages about $ 500 million. Despite being the smallest on the list, it stands out for its multiple investment tools.