Grayscale Adds $1 Billion to Crypto Products in Q3, Sees ‘Unprecedented Demand’ for Bitcoin Cash

Grayscale Adds $1 Billion to Crypto Products in Q3, Sees ‘Unprecedented Demand’ for Bitcoin Cash

Advertisment

“These developments followed FINRA’s verification in July that the required diligence to begin quoting the bitcoin cash and litecoin products … had been completed,” the company explained.

Record Quarter, Over $1 Billion Added

We just recorded our largest ever quarterly inflows – over .0 billion in 3Q20 – making it the third consecutive record-breaking quarter. YTD investment into the Grayscale family of products has surpassed .4 billion.

Investors appear to be interested in digital assets because they have outperformed major indices YTD.

Meanwhile, the company announced on Tuesday that, like GBTC, its Ethereum Trust had attained the status of a Securities and Exchange Commission (SEC) reporting company.
Bitcoin.com is author of this content, TheBitcoinNews.com is is not responsible for the content of external sites.

Unprecedented Demand for 3 Products

Grayscale Investments released its third-quarter performance Wednesday. The company tweeted:

Specifically, the company revealed that the total investment into its products in 3Q 2020 was .05 billion, noting that the majority of investment (81%) came from institutional investors, dominated by hedge funds. In the third quarter, offshore investors accounted for 57% of new investment capital into its products.

Grayscale Investments has announced a record quarterly performance, raking in .05 billion in investments, mostly from institutional investors. The company also sees “unprecedented demand” for bitcoin cash.
What do you think about Grayscale’s Q3 performance? Let us know in the comments section below.

The post Grayscale Adds Billion to Crypto Products in Q3, Sees ‘Unprecedented Demand’ for Bitcoin Cash appeared first on Bitcoin News.

Grayscale Investments’ total net asset under management is .3 billion as of Tuesday. The Grayscale Bitcoin Trust (GBTC) had the most asset under management (,157 million), followed by the Ethereum Trust (7.7 million) and the Digital Large Cap Fund (.0 million). The company described:
Unprecedented demand for BCH, LTC, and DLC … On average, the aforementioned products saw inflows increase by more than 1,400% quarter-over-quarter.
The total investment into Grayscale’s products was .7 billion over the 12-month period ending Sept. 30, which was more than double the .2 billion cumulative inflow into the company’s products from 2013 through 2019.

Grayscale also revealed that three products have seen “unprecedented demand.” The company detailed, “Grayscale’s Bitcoin Cash, Litecoin, and Digital Large Cap [DLC] products have all seen over 10x growth in inflows quarter-over-quarter,” elaborating:

Send bulk sms with Bitcoin and don’t worry If your link gets reported. We are constantly monitoring your links and We’ll pause your campaigns if any issue…