Crypto
Asset Manager Grayscale Adds $905 Million in Record Quarter
Multi-billion dollar crypto
asset manager Grayscale has reported another record quarter, raising $905.8
million across its suite of digital asset products. Grayscale’s inflows nearly
doubled from their previous quarter, when the firm raised $503.7 million.
Grayscale’s products offer
investors exposure to cryptocurrencies without them having to actually manage
crypto wallets or private keys. Its second-quarter inflows brought its total
investments in the first half of this year to $1.4 billion.
The report said:
"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.”
New investors accounted for 14%
of the inflows and represented 57% of the investors base. Institutional
investors, primarily hedge funds, accounted for 84% of the investments.
