- Grayscale Investments announced its best-ever quarterly report, with a record-breaking $1.05 billion flowing into its cryptocurrency investment products.
- Grayscale Bitcoin Trust (GBTC) was the best performing product for Grayscale, with inflows of $720 million since last quarter.
- Grayscale’s assets under management reached all-time highs during Q3 of 2020 for all its products, growing from $2.0 billion to $5.9 billion.
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Between July to September, Grayscale saw $1.05 billion going into its investment products, the bulk of which went into Bitcoin. This was the third consecutive record-breaking quarter for the company.
The report’s highlight is that Q3 of 2020 was the most successful quarter in Grayscale’s history. During the period, Grayscale saw $1.05 billion going into its cryptocurrency investment products. This was the largest money inflow recorded by the company in a single quarter since its inception.
Grayscale’s Bitcoin Trust Breaks Records
Among all of its products, Grayscale Bitcoin Trust brought in the most funds and witnessed an inflow of about $720 million in the last quarter.
GBTC also proved to be the best performing product for Grayscale in terms of assets under management, going from $1.9 billion to $4.8 billion year-to-date. This shows that appetite for Bitcoin remained high among investors this quarter.
Grayscale further detailed that the demand for other investment products increased, with capital inflows of 31% into products other than Grayscale Bitcoin Trust. These inflows show that investors are also bullish on altcoins.
Among alternative products, investors had the highest appetite for Grayscale Bitcoin Cash Trust (BCHG), Grayscale Litecoin Trust (LTCN), and Grayscale Digital Large Cap…