Grayscale Investments announced that it has raked in record investments of $217 million the week its TV commercial campaign launched. The company’s crypto TV commercial kicked off on CNBC, MSNBC, FOX, and FOX Business. Following Grayscale, Michael Novogratz’s Galaxy Digital places a full-page ad in the Financial Times.
Record Investment Week After TV Commercial
In less than a week after Grayscale’s cryptocurrency TV commercial campaign launched, the company says it has achieved the highest weekly investment inflows into its cryptocurrency products. Grayscale debuted a TV campaign entitled “The history of money” on Aug. 10. It aims to elevate awareness of the company’s brand and its cryptocurrency products. Grayscale CEO Barry Silbert tweeted Friday:
Grayscale had our largest fundraising week ever … $217 million invested into the Grayscale funds. Guess you liked the commercial.
Silbert said last week, “We’re going to bring crypto to the masses,” noting that his company’s national ad campaign would kick off on “CNBC, MSNBC, FOX, and FOX Business.”
Grayscale now offers 10 cryptocurrency investment products. The company’s net assets under management (AUM) on Aug. 14 was $5.9 billion. Its Bitcoin Trust continues in the lead, with almost $4.88 billion in AUM. Last week, news.Bitcoin.com reported that Grayscale purchased over $1 million worth of bitcoins in five days. Earlier this month, the company filed with the U.S. Securities and Exchange Commission (SEC) to obtain reporting status for its Ethereum Trust. Recently, Grayscale Bitcoin Cash Trust was approved for public trading.
Grayscale is not the only cryptocurrency company promoting bitcoin on mainstream media platforms. Last week, Galaxy Digital placed a full-page ad in the Financial Times that reads:
Now is the time to invest in bitcoin. In uncertain times, bitcoin is a hedge independent of the hegemony.
The company’s CEO, Michael Novogratz, has been a proponent of bitcoin; he recently said that he preferred bitcoin to gold. The billionaire investor has predicted that the price of bitcoin will reach $20,000 by the end of the year.
What do you think about Grayscale’s TV commercial campaign? Let us know in the comments section below.
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