Grayscale Investments grew 84% in the Q2 of 2019 amid the crypto rally

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  • Grayscale attributes the growth of the product inflows to the uptrend in cryptocurrency prices.
  • “Inflows nearly doubled quarter-over-quarter, from $42.7 to $84.8 million,” Grayscale report.

The assent management firm, Grayscale has reported a tremendous increase in crypto related investments during the second quarter of 2019. The financial report shows the value of the assets under management (AUM) grew significantly from $926 million to $2.7 billion.

“With a nearly 100% increase in quarter-over-quarter product inflows, this growth demonstrates that the recent rally in digital asset prices is supported by fresh investment,” the company stated.

As noted Grayscale attributed the growth of the product inflows to the uptrend in cryptocurrency prices. At the moment, Grayscale has nine digital assets under its management with its largest holdings in Bitcoin Trust currently valued at $2.4 billion AUM.

The company also said that the positive growth is as a result fresh influx of funds from institutional investors.

“Inflows nearly doubled quarter-over-quarter, from $42.7 to $84.8 million, demonstrating that the recent rally in digital asset prices is supported by fresh investment,” Grayscale reported. In addition to that “more than 70% of inflows this quarter were associated with contributions of digital assets into the Grayscale family of products “in-kind” in exchange for shares, an uptick from the longterm trend.”

Grayscale further said that its alternative investment products contributed 24% of the total fresh capital inflow. The firm added:

“Q2 2019 inflows into the Grayscale Ethereum Trust reached $14 million followed by Grayscale Ethereum Classic Trust which reached $5.5 million. In addition, 76% of Q2 2019 inflows were into Grayscale Bitcoin Trust.”

 

 

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