Grayscale: Q3 Saw Record High Inflows, Growing Institutional Interest
Ana Alexandre's original article for cointelegraph.com reduced by 54%
Digital asset management giant Grayscale registered over $254 million in total investment into its products in the third quarter of 2019.In its Digital Asset Investment Report for Q3 2019, Grayscale provided details on the inflows into its products for the period from July 1, 2019 through Sept. 30, 2019. The quarterly inflows into Grayscale Bitcoin Trust amounted to $171.1 million, wherein July was the month with the highest level of inflows during Q3.
As reported in July, Grayscale Bitcoin trust outperformed indices in the first half of 2019, up almost 300% on the year at the time. Domination of institutional investorsInstitutional investors were the major contributors to the company's products both in Q3 and year-to-date, with 84% and 83% respectively. Worth noting, total investments into Grayscale products from Jan.
1, 2019 through Sept. 30, 2019 amounted to $382.3 million, while the figure over the past 12 months is $412.3 million. Previously, Grayscale's director of sales and business development Rayhaneh Sharif-Askary stated that institutional investors are constantly piling into the space in 2019.
Ahead of conquering the marketOn Oct. 14, Grayscale Investments was approved by the United States Financial Industry Regulatory Authority to publicly quote its Grayscale Digital Large Cap Fund on over-the-counter markets. This purportedly enables the first publicly-quoted security based on a selection of digital currencies in the U.S.In August, Cointelegraph reported that Grayscale was going to move almost $3 billion worth of its digital currency holdings to American major crypto wallet provider and exchange Coinbase.
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