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Bitcoin (BTC) Goliath Grayscale Reveals $1,400,000,000 Invesment in Crypto Funds in 2020

by Daily Hodl Staff
July 17, 2020
in Bitcoin

The digital asset manager Grayscale says inflows to its Bitcoin (BTC) and other crypto investment products reached $905.8 million in Q2 2020, bringing the total capital raised to $1.4 billion in the first half of the year.

In its latest digital asset investment report, the firm says 84% of the investments are from institutional investors, primarily hedge funds. Of the returning institutional investors, 81% are invested in multiple products.

“For the first time, inflows into Grayscale products over a 6-month period crossed the $1 billion threshold, demonstrating sustained demand for digital asset exposure despite a backdrop characterized by economic uncertainty.”

The firm says its Grayscale Bitcoin Trust continues to lead the pack in investment demands with inflows of $751.1 million in the last quarter, which marks Q2 2020 as the product’s fourth successive record-breaking quarter.

The company says that following the Bitcoin halving in May, inflows to the Grayscale Bitcoin Trust surpassed the number of newly-mined BTC over the same period.

In addition, Grayscale says its other crypto funds are gaining momentum. The Grayscale Ethereum Trust recorded an inflow of $135.2 million in Q2, accounting for nearly 15% of total inflows. The Grayscale Litecoin Trust also surpassed its investment records, and the Grayscale Bitcoin Cash Trust saw its largest inflow since Q2 2018.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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