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The leader in digital asset management Grayscale is about to take an important step.
New figures on Grayscale’s crypto products show the company now has $ 9.8 billion in assets under management (AUM), quickly approaching the $ 10 billion mark.
$ 200 million to go https://t.co/vnQWM2dz2a
– Barry Silbert (@BarrySilbert) November 13, 2020
Grayscale’s range of investment products provide institutional investors with a simple, 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 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 before the company breaks the $ 10 billion mark.
“More institutions invested in 3Q20 than ever before and increased their average allocation from $ 2.2 million in 3Q19 to $ 2.9 million in 3Q20. Institutions that are comfortable with several products within the Grayscale product line have on average nearly double the commitments of single-product investors in 3Q20 …
The steady and significant growth in demand for digital assets – illustrated through the prism of increasing assets in grayscale – continues to support our view that digital assets are an emerging market that should not be ignored. This persistent demand has enabled Grayscale Bitcoin Trust to become one of the fastest growing investment products in the world.
And as investors become more comfortable with digital assets, we are seeing an increased appetite for Grayscale products. Grayscale’s Bitcoin Cash, Litecoin, and Digital Large Cap products all saw more than 10x growth in admissions quarter over quarter. “
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Disclaimer: Opinions expressed in Daily Hodl are not investment advice. Investors should do due diligence before making high risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and that any losses you may suffer are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in Affiliate Marketing.
Featured Image: Shutterstock / Sergey Nivens
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