Leading digital asset manager Grayscale is on the cusp of a major milestone.
New numbers on Grayscale’s crypto products show that the company now has $ 9.8 billion in assets under management (AUM), which is fast approaching the $ 10 billion mark.
$ 200 million to go to https://t.co/vnQWM2dz2a
– Barry Silbert (@BarrySilbert) November 13, 2020
Grayscale’s suite of investment products offers institutional investors a simple and regulatory compliant way to gain exposure to Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), Stellar ( XLM), Horizon (ZEN), Zcash (ZEC) and Ethereum Classic (ETC).
The company’s new Q3 report shows how fast space is growing in 2020.
Grayscale says investors bought $ 1.05 billion in Grayscale Trusts during the quarter, higher than the previous record of $ 906 million in the second quarter of this year.
With an average weekly investment of $ 80.5 million, it won’t be long before the company crosses that $ 10 billion mark.
“More institutions invested in 3Q20 than ever and increased their average endowment from $ 2.2 million in 3Q19 to $ 2.9 million in 3Q20. Institutions that are comfortable with multiple products within the grayscale product suite, have on average nearly double the investor commitments of a single product during 3Q20 …
The steady and significant growth in demand for digital assets – shown through the lens of grayscale asset collection – continues to confirm our view that digital assets are an emerging market that should not be ignored. This persistent demand has enabled Grayscale Bitcoin Trust to become one of the fastest growing investment products in the world.
And as investors become more comfortable with digital assets, we’re seeing an increased appetite for grayscale products. Grayscale’s Bitcoin Cash, Litecoin and Digital Large Cap products saw inflows grow more than 10x quarter-over-quarter. “
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