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Grayscale Announces Best Ever Quarter With Over $1B Raised
Digital asset manager Grayscale Investments has posted its best quarterly results to date, having brought in just over $1 billion in investment across all of its cryptocurrency products.
Updated May 9, 2023, 3:12 a.m. Published Oct 14, 2020, 1:22 p.m.
Digital asset manager Grayscale Investments has posted its best quarterly results to date, having brought in just over $1 billion in investment across all of its cryptocurrency products.
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- In its financial report for Q3 2020, the company – which is owned by CoinDesk's parent firm Digital Currency Group – said it had seen inflows of $1.05 billion across all products.
- For the year so far, the figure stands at $2.4 billion, which Grayscale said is more than twice the total amount raised for the years 2013–2019.
- Its most popular product, the Grayscale Bitcoin Trust, saw inflows of $719.3 million in the third quarter, while bitcoin assets under management (AUM) have grown 147% in 2020.
- Crypto products excluding the Bitcoin Trust made a 31% contribution to the $1 billion total in Q3.
- Grayscale's trusts for litecoin and bitcoin cash, and its "Large Cap Fund," all saw inflows rise by 1,400% from quarter to quarter.
- The company said 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 company said.
- Grayscale had around $5.9 billion in assets under management across its 10 products as of Sept. 30.
- Edit (13:40 UTC): Corrected erroneous investment amount in first paragraph.
Also read: Bitcoin and Ether Rally After Grayscale’s ETH Trust Becomes SEC-Reporting
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