Digital Assets: Grayscale Reports A Blow-Out Third Quarter; Nabs $1.05B Inflows

October 15, 2020 | Digital Assets, News

Q3 was Grayscale’s third consecutive record-breaking quarter.

Grayscale Investments, the largest asset manager of digital currencies in the world, said it gained $1.05 billion of inflows into its digital investment products during the third quarter of 2020. It was the biggest quarterly inflow in the firm’s history. (Medium)

Key highlights from the asset manager’s Q3 report

  • The star performer was the Grayscale Bitcoin Trust, which garnered inflows of $ 719.3 million. Year to date the assets of this trust have surged from $ 1.9 billion to $ 4.8 billion. Though the trust is not an ETP or ETF, in comparison with these products the Bitcoin Trust would rank as the third fastest-growing product this year.
  • The firm offers digital currency-based products other than bitcoin too. Among these so-called alternative products, Grayscale Bitcoin Cash Trust, Grayscale Litecoin Trust, and Grayscale Digital Large Cap Fund enjoyed “unprecedented demand.” Inflows for these products jumped more than 1,400% quarter on quarter.
  • During the third quarter, the asset manager’s bitcoin inflows were equivalent to about 77% of all the bitcoin mined in that period, up from about 70% in the second quarter.

  • Institutional investors accounted for the lion’s share of investment during the quarter – as much as 81%.
  • As of September 30, Grayscale Investments’ AUM across its 10 products was approximately $ 5.9 billion.

Related Story:   “Bitcoin Is An Uncorrelated Asset,” Says Fidelity Report

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Digital Assets: Mike Novogratz Hits Out At Sam Bankman-Fried, Calls For His Prosecution
December 2, 2022     Digital Assets, News

Mike Novogratz, the billionaire CEO of Galaxy Digital (TSE: GLXY), was unequivocally critical about Sam Bankman-Fried’s virtual New York Times (NYT) Dealbook Summit interview. “I’m hoping that the authorities get…
FinTech: Monzo To Turn Profitable In 2023, Says CEO
December 2, 2022     FinTech, News

“We will be profitable in the next financial year,” TS Anil said at the summit on Thursday, though Monzo reported pre-tax losses of £119mn for the 12 months to the…
Artificial Intelligence: OpenAI Launches ChatGPT, A New Conversational AI System
December 2, 2022     Artificial Intelligence, News

OpenAI has unveiled ChatGPT, a new AI system that interacts in a conversational way. As part of a dialogue format, ChatGPT answers followup questions, admits its mistakes, challenges incorrect premises,…
Artificial Intelligence: Monarch’s Electric, Driver-Optional, Smart Tractor Now In Commercial Production

Monarch Tractor has rolled out the first production model of the MK-V tractor that combines electrification, automation, and data analysis to help farmers reduce their carbon footprint, improve field safety,…