Grayscale Investments has announced a record-breaking weekly inflow of $217 million into its cryptocurrency funds, just days after launching its first-ever TV commercial campaign. The ad, titled "The History of Money," debuted on August 10 across major business news networks including CNBC, MSNBC, FOX, and FOX Business, aiming to raise brand awareness and introduce crypto products to a broader audience.
Record-Breaking Inflows
Grayscale CEO Barry Silbert confirmed the milestone via Twitter on August 14, stating, "Grayscale had our largest fundraising week ever ... $217 million invested into the Grayscale funds. Guess you liked the commercial." He had previously said the company would "bring crypto to the masses" through the national ad campaign. Grayscale now offers 10 crypto investment products, with total assets under management (AUM) reaching $5.9 billion as of August 14. The Grayscale Bitcoin Trust continues to dominate, holding nearly $4.88 billion in AUM. The company's Bitcoin Cash Trust was recently approved for public trading. Earlier this month, Grayscale also filed with the U.S. Securities and Exchange Commission (SEC) to obtain reporting status for its Ethereum Trust.
Mainstream Media Push
Grayscale is not the only crypto firm leveraging mainstream media. Galaxy Digital, led by Michael Novogratz, placed a full-page ad in the Financial Times this week declaring: "Now is the time to invest in Bitcoin. In uncertain times, Bitcoin is a hedge independent of the hegemony." Novogratz, a long-time Bitcoin advocate, recently stated he prefers Bitcoin over gold and predicted the cryptocurrency could reach $20,000 by year-end. The simultaneous ad pushes by both firms signal a growing trend of institutional-grade crypto products reaching traditional investors through established media channels.