Grayscale (Courtesy: Twitter)
Latest News

Grayscale Raises Over $1B In Best Ever Quarter

Grayscale (Courtesy: Twitter)
Grayscale (Courtesy: Twitter)

Digital asset manager Grayscale Investments has posted its best quarterly results to date, having brought in just over $5 billion in investment across all of its cryptocurrency products.

In its financial report for Q3 2020, the company – which is owned by CoinDesk’s parent firm Digital Currency Group – said it had seen inflow of $1.05 billion across all products.

For the year so far, the figure stands at $2.4 billion, which Grayscale said is more than twice the total amount raised for the years 2013–2019.

Its most popular product, the Grayscale Bitcoin Trust saw inflows of $719.3 million in 3Q20, while bitcoin assets under management (AUM) have grown 147% in 2020.

Crypto products excluding the Bitcoin Trust made a 31% contribution to the $1 billion total in Q3.

Grayscale’s trusts for litecoin and bitcoin cash, and its “Large Cap Fund,” all saw inflows rise by 1,400% from quarter to quarter.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.