While some institutional investors have begun to warm to the idea of investing in digital currencies, they too encounter obstacles when seeking to invest in this asset class. In an effort to understand how hedge fund managers are approaching the digital currency market, the Hedge Fund Law Report recently interviewed Michael Sonnenshein, managing director at Grayscale Investments (Grayscale), an asset management firm focused exclusively on digital currency investing. In his role, Sonnenshein oversees the day-to-day business of Grayscale and has direct responsibility for the organization’s sales, operations and marketing. This article discusses distinct ways investors can gain exposure to digital currencies; the evolution of the asset class; and Sonnenshein’s observations regarding the increased interest by institutional investors – including hedge fund managers – in investing in digital currencies. See “Best Practices for Funds That Invest in Digital Assets” (Feb. 21, 2019); and “Opportunities and Challenges Posed by Three Asset Classes on the Frontier of Alternative Investing: Blockchain, Cannabis and Litigation Finance” (Dec. 14, 2017).