Grayscale Investments LLC. reports yet another high in quarterly inflows with $905.8 million in 2Q20, totalling $1.4 billion since the beginning of the year.
The Trust Fund indices which are only available to accredited and institutional investors also saw a significant increase of new investors. Reportedly, ‘new investors accounted for $124.1 million of inflows and 57% of the investor base.’ The institutional investors accounted for 84% of the investment. Moreover, 60% of the total inflow was from outside the U.S.
The Bitcoin Trust fund, $GBTC, accounted for nearly 83% of the inflows, followed by Ethereum at 15%.
Moreover, the overall increase in the Trust Funds’ Bitcoin holdings in Q2 was greater than the number of Bitcoins mined. The cumulative AUM of Grayscale reached a new ATH in Q2 2020 over $2.6 billion.
As reported earlier on CoinGape, underneath it does not represent the transfer of newly mined Bitcoins, but also institutional investors taking advantage of the GBTC premium.
Nevertheless, the increase in the altcoin investment with the largest reported inflows in Ethereum [ETH, Bitcoin Cash [BCH] and Litecoin [LTC] seem to be net positive for the crypto industry. The complete report can be downloaded from their website here.
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Luke has had a long interest in financial technology, especially cryptocurrency and blockchain. With a Bachelors degree in Journalism and Media, Luke is dedicating his writing skills for the digital currency sphere.He can be contacted at email@example.com