Grayscale's Products Hit $250.7 Million In The Fourth Quarter
Grayscale’s Products Hit $250.7 Million In The Fourth Quarter
January 15, 2021
Grayscale's Products Hit $250.7 Million In The Fourth Quarter
Grayscale’s Products Hit $250.7 Million In The Fourth Quarter
January 15, 2021

Grayscale’s products hit $250.7 million in the fourth quarter by capping off a stellar year for the asset manager.

It has been reported by digital-asset manager that total investments into Grayscale’s family of products reached $3.3 billion in the final quarter of 2020, which translated into average weekly inflows of $250.7 million.

However, that’s a threefold increase from the third quarter when Grayscale products raked in $1.05 billion.

The report said that Grayscale’s Bitcoin Trust generated $217.1 million in average weekly inflows. The Ethereum Trust saw an average of $26.3 million in new capital invested.

According to Grayscale, ninety-three percent of new investments came from institutional investors, with asset managers accounting for the largest share. That’s a nine percentage point increase from the third quarter when institutions accounted for 84% of new capital. In all of 2020, investments into Grayscale products totaled $5.7 billion. That’s more than four times the cumulative inflow between 2013 and 2019.

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Grayscale’s data reflect a turning point for Bitcoin in 2020, as smart-money investors began to view the digital asset as an inflationary hedge and long-term store of value. That narrative helped propel Bitcoin to a price of nearly $42,000 in early January after more than doubling in just three weeks.

Jeff Currie, the executive at Goldman Sachs, said that institutional adoption of Bitcoin has put the asset on a path to maturity.

Thus, he acknowledged that Bitcoin still has a long way to go before it’s considered an institutional-grade asset.

Source: Cointelegraph


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.