Cryptocurrency asset manager Invictus Capital saw significant growth in assets under management during the first quarter, highlighting the rapid uptake of digital assets among institutional investors.
Assets under management surged by 50% to $112 million in the quarter ending March 31, Invictus disclosed Thursday. The company’s Crypto20 index fund, a tokenized fund of the top-20 cryptocurrencies, registered 221% growth.
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“Our Q1 report speaks volumes about the cryptocurrency market’s ongoing boom and the lucrative opportunity that structured crypto funds offer,” CEO Daniel Schwartzkopff said, adding:
"We see the most recent bull cycle—which coincides with greater institutional adoption—as a critical juncture in Bitcoin’s relatively short history and a signal that the broad adoption of cryptocurrencies as a global store-of-value is becoming a certainty for the medium term, with digital assets offering many improvements over assets that have traditionally filled the role, such as gold.”
Invictus Capital’s growth mirrored a tremendous bull cycle for the cryptocurrency market during the first quarter, as the total market capitalization of digital assets rose 134% to over $1.86 trillion, according to Coingecko data. The market is charting new all-time highs on Thursday, with total assets collectively valued at $2.46 trillion.
Institutional adoption of crypto-assets is also on the rise, with the latest weekly inflows report from CoinShares showing significant growth across Bitcoin (BTC), Ethereum (ETH) and smaller cap altcoins. Institutions now hold nearly $65 billion in assets under management, according to the calculations.
Grayscale remains by far the largest institutional manager of crypto funds. On Wednesday, the company reported a total of $49.8 billion in assets across its family of products.
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