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.
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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