Grayscale, a digital currency asset manager, is reporting growing interest in its crypto-focused funds. In fact, during Q2, total investment into Grayscale’s products hit $905.8 million. That is double what was previously reported in Q1 and 1.5X the entire amount of capital raised during 2019.
Grayscale states that demand for Bitcoin is strong but also for altcoins. Institutional money is the big driver here as big money accounted for 84% of the investment.
During the second quarter, new investors accounted for $124.1 million of inflows and 57% of the investor base, up from 49% in the previous 12 months.
The trailing 12 months saw Grayscale Bitcoin Trust generate inflows of $1.5 billion.
Demand for Grayscale Products besides Bitcoin Trust grew to $154.7 million, up 35% quarter over quarter, and up over 649% from second quarter 2019. Much of the increase was driven by continued inflows into Grayscale Ethereum Trust ($135.2 million), bringing inflows for Grayscale Products ex Bitcoin Trust to $384.1 million during the past 12 months..
Grayscale notes that demand for alternative assets is rising due in part to COVID-19 and the enormous stimulus being injected into the economy.
Have a crowdfunding offering you’d like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!