MassMutual, a leading insurance company with a value of $570 billion, Bitcoin attracted attention by making an investment. According to the latest news, it is noteworthy that the company invests in BTC through ETF in its 13F file.
MassMutual Invested in Bitcoin ETFs!
of the company Grayscale Bitcoin Trust It is also noteworthy that it invests through the (GBTC) ETF. Allocating a staggering $100 million worth of BTC purchases to its balance sheet in 2021 MassMutual‘s investment has gained ground as a notable affirmation of BTC’s status as a global asset for mitigating risks.
This investment, which is small compared to the company’s total portfolio, is interpreted as good news compared to the conservative attitude of BTC’s insurance investment strategies. This move is also interpreted as a sign that institutional investors are accepting the value proposition of cryptocurrencies.
According to Bitcoin technical analysis, total outflows in ETFs were recorded as $15.64 million, cumulative net inflows were $1.78 billion, and total net assets were recorded as $52.51 billion. Notably, the largest withdrawal was from Grayscale’s GBTC ETF, totaling $17 billion.
Despite this activity, BTC is trading around $61,400 and its trading volume remains resilient at $17 billion.
