Grayscale Reveals Massive Investment In Crypto Funds In 2020
Today, the crypto market looks pretty mixed with Bitcoin trading in the green. At the moment of writing this article, BTC is priced at $9,174.03.
It’s been just revealed that the digital asset manager Grayscale said that the inflows to the BTC and more crypto investment products managed to reach $905.8 million in Q2 2020 and this brought the total capital raised to $1.4 billion in the first half of the year.
Grayscale’s report is out
According to the latest report, the firm says 84% of the investments are from institutional investors, primarily hedge funds.
It’s been also revealed that of the returning institutional investors, 81% are invested in multiple products.
“For the first time, inflows into Grayscale products over a 6-month period crossed the $1 billion thresholds, demonstrating sustained demand for digital asset exposure despite a backdrop characterized by economic uncertainty,” according to the report.
Also, the firm said that its Grayscale Bitcoin Trust is leading the pack in investment demands with inflows of $751.1 million in the last quarter, as reported by the Daily Hodl.
Grayscale also made sure to highlight the fact that after the Bitcoin halving, which took place back in May, the inflows to the Grayscale Bitcoin Trust surpassed the number of newly-mined BTC over the same period.
We recommend that you check out the complete report.
Bitcoin price predictions
It’s been recently revealed that Bitcoin has to reclaim $9,400 soon in order to be able to keep the bears away.
Cointelegraph Markets analyst filbfilb warned that the situation facing Bitcoin was fast becoming make or break.
BTC Bulls need to reclaim $9400 quick sharp.
Coming to the end of consolidation/compression now.. doing so below the middle of the bbands is not typically a good sign.
Reclaim that level and happy to reconsider bearish bias. pic.twitter.com/KGmxeVmp8o
— f i l ₿ f i l ₿ (@filbfilb) July 16, 2020
There have been all kinds of bullish predictions about the price of Bitcoin following the may halving.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.