Vaguard Group assets increases engagement in Bitcoin mining companies to over half a billion dollars.

Vaguard Group assets increases engagement in Bitcoin mining companies to over half a billion dollars.

Vanguard Group increases investments in Bitcoin mining company

The asset manager Vanguard Group has increased his commitment to Bitcoin mining companies, as can be seen from documents that were submitted to the US stock exchange supervision SEC on Monday. Vanguard has increased its share in the industry to over half a billion dollars.

Vanguard, a heavyweight in the financial industry with an managed assets of $ 7.2 trillion, has bought further shares from Riot Platforms and Marathon Digital.

According to the documents, Vanguard has increased its marathon digital stocks by 60 %, from 10.9 million shares to 17.5 million. For the current price of $ 16.03 per share, Vanguard's investment is $ 280.5 million in stocks.

Also its share in Colorado-based Bitcoin-Miner Riot Blockchain was increased by almost 18 %, from 15.2 million shares to 17.9 million shares or over $ 281 million in stocks. Overall, Vanguard's total investment in Bitcoin-Miner is now $ 560 million.

RIOT Blockchain, the largest crypto miner in the USA, is currently being traded under the ticker symbol Riot and the stock is traded for $ 15.72 per share.

It seems that the institutional interest in cryptocurrencies, in particular Bitcoin, the largest digital asset after market capitalization, grows. Last week the CEO from Blackrock, Larry Fink, Bitcoin described as a "international asset". Blackrock is the world's largest asset manager with an administrated assets worth $ 9.5 trillion and submitted an application for a spot bitcoin exchange trading fund at the SEC last month. Blackrock is also the second largest investor from Marathon Digital with 8.6 million shares.

A number of other large fund managers also applied for a Bitcoin ETF, which catapulted the price of the cryptocurrency for an annual high.

In addition, a new cryptocurrency exchange was launched last month, which is supported by the top wall street names Charles Schwab, Citadel Securities and Fidelity Digital Assets. EDX Markets enables institutional investors to buy assets such as Bitcoin, Bitcoin Cash, Litecoin and Ethereum.

Bitcoin mining is a lucrative business where powerful computers are used to verify transactions in the blockchain. Miner, which mostly occur in the form of large companies with server farms and high energy consumption, receive new bitcoins for their work.

It remains exciting to observe the developments in the crypto industry and see how the institutional interest in cryptocurrencies develops.