The leading digital asset manager Grayscale is on the cusp of a major milestone.
New numbers on Grayscale’s crypto products show the company now has $9.8 billion in assets under management (AUM), rapidly approaching the $10 billion mark.
$200 million to go https://t.co/vnQWM2dz2a
— Barry Silbert (@BarrySilbert) November 13, 2020
Grayscale’s suite of investment products give institutional investors a simple and regulatory compliant way to gain exposure to Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), Stellar (XLM), Horizon (ZEN), Zcash (ZEC), and Ethereum Classic (ETC).
The company’s new Q3 report shows just how fast the space is growing in 2020.
Grayscale says investors bought $1.05 billion in Grayscale Trusts throughout the quarter, higher than its previous record of $906 million in the second quarter of this year.
With an average weekly investment of $80.5 million, it won’t be long until the firm crosses that $10 billion mark.
“More institutions invested in 3Q20 than ever before and have increased their average allocation from $2.2 million in 3Q19 to $2.9 million in 3Q20. Institutions that are comfortable with multiple products within the Grayscale suite of products, have averaged nearly double the commitments of single-product investors during 3Q20…
Consistent and significant growth in the demand for digital assets – shown through the lens of Grayscale asset raising – continues to corroborate our view that digital assets are an emergent market that should not be ignored. This persistent demand has allowed Grayscale Bitcoin Trust to become one of the fastest-growing investment products in the world.
And as investors grow more comfortable with digital assets, we are seeing increased appetite among Grayscale’s products. Grayscale’s Bitcoin Cash, Litecoin, and Digital Large Cap products have all seen over 10x growth in inflows quarter-over-quarter.”
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Featured Image: Shutterstock/Sergey Nivens