Cryptocurrency News

Grayscale Q3 Report 2020 – $1 Bln Investment In Crypto Products.

Virtual asset manager Grayscale Investments has posted its best quarterly results so far, having brought in only over $1 Bln in investment across all of its crypto-related products.

Within its financial report for Q3, this year revealed that it had seen inflows of $1.05 Bln across all products.

For the year thus far, the figure stands at $2.4 Bln, that Grayscale revealed is quite twice the entire amount raised for the years 2013–2019.

Its renowned product, the Grayscale Bitcoin Trust, saw inflows of $719.3 Mln within the 3rd quarter, while bitcoin assets under management (AUM) have grown 147% this year.

Cryptocurrency products excluding the Bitcoin Trust made a 31% contribution to the $1 Bln total in Q3.

Grayscale’s trusts for Litecoin [LTC] and Bitcoin Cash [BCH], and its “Large Cap Fund,” all saw inflows rise by 1,400% from quarter to quarter.

The firm added that around 81% of investment in Q3 came from institutional investors, while 57% of investment came from those investing in multiple products. That reflects a broadening of interest outside bitcoin, the firm added.

Grayscale had over $5.9 Bln in assets under management across its 10 products as of 30th Sept.

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