Institutional Investors Are Buying Bitcoin And Ethereum – $498,900,000 Poured In The Two Coins
At the moment of writing this article, both coins are still trading in the green, and they’re on an upward trend.
Grwyscale’s statistics show investors buy BTC and ETH
It’s been revealed that there are new numbers from the digital asset management giant Grayscale that are showing investors are pouring big money into ETH for the first time.
Grayscale’s Q1 2020 report reveals that institutions are taking a serious interest in ETH at least it is enough to print a record quarterly inflow into the Grayscale Ethereum Trust.
According to the online publication the Daily Hodl the head of crypto investments at DTC Capital, said that the numbers show the fact that ETH has reached a turning point with high-net-worth investors.
The publication mentioned above brings up Spencer Noon, the head of crypto investments at DTC Capital who stated the following:
“Institutional investors are buying ETH. The cat is officially out of the bag. From the latest Grayscale report: [Grayscale] Ethereum Trust saw $110M in Q1 inflows. This is more than all of its previous inflows combined for the past two years ($95.8M).”
Inflows in ETH surpassed BTC
It’s been revealed that inflows in ETH even surpassed BTC in the weeks before the end of Q1.
Q1 2020 marks Grayscale’s strongest quarter yet, with >$500 million raised … that’s 83% of total capital raised for ALL of 2019, in just ONE quarter! Read more about the demand trends we witnessed in the first quarter here: https://t.co/TFwqIcAQEA pic.twitter.com/FXygoDT6T5
— Grayscale (@GrayscaleInvest) April 17, 2020
During the entire Q1, investors poured a record $389 million into the Grayscale Bitcoin Trust.
This was in addition to the $110 million invested in the Grayscale Ethereum Trust – for a total of $498.9 million, according to official notes. Across all of its products, Grayscale reported a record inflow total of $503.7 million.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.