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 inflows 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 the third quarter, while bitcoin assets under management (AUM) have grown 147% in 2020.
- Crypto products excluding the Bitcoin Trust made a 31% contribution to the $1 billion total in Q3.
- 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 (13:40 UTC): Corrected erroneous investment amount in first paragraph.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.