Grayscale Announces Best Ever Quarter With Over $1B Raised

Oct 14, 2020 at 13:22 UTCUpdated Oct 14, 2020 at 13:40 UTC.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.

In its financial report for Q3 2020, the company - which is owned by CoinDesk's parent firm Digital Currency Group - said it had seen inflow 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 3Q20, while bitcoin assets under management 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: Corrected erroneous investment amount in first paragraph.