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

July 17, 2020

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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