Grayscale sees more than $1 billion in new investments in Q3

Grayscale Investments, the world's largest digital currency asset manager, says it raised $1.05 billion for investment products during the third quarter of 2020 — the largest inflow of funds from investors a single quarter in Grayscale’s history.

On Wednesday the firm released a comprehensive report detailing its latest investment activity. According to the report, the vast majority of its investments (81%) in the third quarter came from institutional investors. 

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For all of 2020, Grayscale’s investments total $2.4 billion — double the total of $1.2 billion that has been invested in Grayscale products between 2013 and 2019. 

Grayscale Bitcoin Trust is one of the fastest-growing investment products, with inflows of $719.3 million in the third quarter. In total, the company had over $5.9 billion in managed assets as of Sept. 30, 2020.

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MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.