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Digital asset manager Grayscale reports record inflows in second quarter of 2020

The multi-billion dollar digital asset manager Grayscale reported the largest quarterly inflows in its history, according to its quarterly report published Wednesday.

In the second quarter of 2020, Grayscale raised $905.8 million across its suite of digital asset products, nearly doubling its previous high from the first quarter of 2020 ($503.7 million). As previously reported, Grayscale offers a range of products that provide indirect exposure to digital assets like bitcoin. The second quarter's inflows brought Grayscale's 1H20 total investments to $1.4 billion, per the report.

"Cumulative investment across the Grayscale family of products since inception has reached $2.6 billion. Grayscale Bitcoin Trust and Grayscale Ethereum Trust both experienced record quarterly inflows of $751.1 million and $135.2 million, respectively," the company said in its report.

[caption id="attachment_71621" align="aligncenter" width="1208"]

Source: Grayscale[/caption]

New investors accounted for 14% of the inflows and represented 57% of the investor base. 84% of investments came from institutional investors that were primarily hedge funds.

[caption id="attachment_71622" align="aligncenter" width="1192"]

Source: Grayscale[/caption]

Grayscale also reported large interest in alternative cryptocurrencies, reporting that demand for its Ethereum Trust product accounted for nearly 15% of total inflows — an all-time high.

As of June 30, the firm had $4 billion in assets under management, per the report.


© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.