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<div class="featured_image_container"> </div> <div class="td-a-rec td-a-rec-id-content_top "><a data-bid="1" href="https://news.bitcoin.com/linkout/398349" rel="nofollow noopener noreferrer" target="_blank"><img loading="lazy" src="https://scoreit.online/wp-content/uploads/2020/10/lottery_euro_1456x360_btc-2.jpg" alt width="1456" height="360"></a></div><strong>Grayscale Investments has announced a record quarterly performance, raking in $1.05 billion in investments, mostly from institutional investors. The company also sees “unprecedented demand” for bitcoin cash.</strong>
Record Quarter, Over $1 Billion Added
Grayscale Investments released its third-quarter performance Wednesday. The company tweeted:
We just recorded our largest ever quarterly inflows – over $1.0 billion in 3Q20 – making it the third consecutive record-breaking quarter. YTD investment into the Grayscale family of products has surpassed $2.4 billion.
Specifically, the company revealed that the total investment into its products in 3Q 2020 was $1.05 billion, noting that the majority of investment (81%) came from institutional investors, dominated by hedge funds. In the third quarter, offshore investors accounted for 57% of new investment capital into its products.
The total investment into Grayscale’s products was $2.7 billion over the 12-month period ending Sept. 30, which was more than double the $1.2 billion cumulative inflow into the company’s products from 2013 through 2019.
Unprecedented Demand for 3 Products
Grayscale also revealed that three products have seen “unprecedented demand.” The company detailed, “Grayscale’s Bitcoin Cash, Litecoin, and Digital Large Cap [DLC] products have all seen over 10x growth in inflows quarter-over-quarter,” elaborating:
“These developments followed FINRA’s verification in July that the required diligence to begin quoting the bitcoin cash and litecoin products … had been completed,” the company explained.
Grayscale Investments’ total net asset under management is $6.3 billion as of Tuesday. The Grayscale Bitcoin Trust (GBTC) had the most asset under management ($5,157 million), followed by the Ethereum Trust ($867.7 million) and the Digital Large Cap Fund ($92.0 million). The company described:
Investors appear to be interested in digital assets because they have outperformed major indices YTD.
What do you think about Grayscale’s Q3 performance? Let us know in the comments section below.
<div class="article__body__tags-related"> <div class="article__body__tags-related__tags"> <h6 class="article__body__tags-related__title"> Tags in this story </h6> </div> </div> <p class="images_credits"><em><b>Image Credits</b>: Shutterstock, Pixabay, Wiki Commons</em></p> <div class="disclaimer" readability="18.596525096525"><strong>Disclaimer</strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. <a href="https://bitcoin.com">Bitcoin.com</a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.