In Q3 2019, digital asset manager Grayscale Investments saw the strongest demand for its products in the third quarter since the firm's inception.
Its banner product, the Grayscale Bitcoin Trust, saw $171.7 million in inflows in the three months - the heaviest investment period in the Trust's six-years. This included one single day in July which saw inflows of $75 million. July was its strongest ever month of inflows.
Records Hit Despite Crypto Price Drop
The majority (80%) of the investment inflows during the quarter came from institutional investors (dominated by hedge funds), helping bring the total assets under management to $2.1 billion. This was in spite of a pull-back in cryptocurrency prices during the quarter.
Despite the latest drawdown, the 2019 large cap-led bull market appears to remain intact, supported by record demand for digital asset exposure through the Grayscale family of investment products.
Featured Image Courtesy of Grayscale Investments