Grayscale’s cryptocurrency funds pull in a record $1.05 billion in Q3

In the third quarter, inflows into Grayscale Investments’ cryptocurrency funds reached a record $1.05 billion. This is according to the company’s latest report.

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In the previous quarter inflows were $905.8 million. Since the start of the year, cumulative inflows reached $2.4 billion, more than doubling the total for 2013-2019.

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On average per week, new investments totaled $80.5 million, of which $55.3 million went to Grayscale Bitcoin Trust (GBTC) and $15.6 million to Grayscale Ethereum Trust. The share of the latter rose from 15% to 19.4%.

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Source: Grayscale Investments.

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GBTC growth for the quarter was proportional to 77% of Bitcoin’s issuance during that period.

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Source: Grayscale Investments.

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Altcoin-based products attracted 31% of all investments. By the end of the quarter, the volume raised for trusts tied to Bitcoin Cash (BCH), Litecoin (LTC), and the Digital Large Cap fund rose thirteenfold.

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According to the latest data, total assets under management at Grayscale Investments stand at $6.3 billion.

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10/13/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.

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Total AUM: $6.3 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC pic.twitter.com/qwqOFHAnpl

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— Grayscale (@Grayscale) October 13, 2020

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As of the end of September, GBTC held 449,900 BTC, representing 2.4% of the active supply at that time.

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