Cryptocurrency
Grayscale Says It Raised a Record $500M in First Quarter
Coindesk reports, “In a record first quarter, Grayscale reports that many institutional investors took advantage of market turbulence to increase their exposure to cryptocurrencies. “The crypto-focused investment firm raised a total of $503.7 million in Q1 2020, nearly double the previous quarterly high of $254.8 million reached in Q3 2019. While bitcoin-weighted trusts continue to […]
Coindesk reports, “In a record first quarter, Grayscale reports that many institutional investors took advantage of market turbulence to increase their exposure to cryptocurrencies.
“The crypto-focused investment firm raised a total of $503.7 million in Q1 2020, nearly double the previous quarterly high of $254.8 million reached in Q3 2019. While bitcoin-weighted trusts continue to be the company’s most popular product, the report noted that ether trusts also received record inflows in the same quarter as investors added multiple Grayscale products to their portfolios.
“The New York-based firm raised something like $600 million across the whole of 2019. With Thursday’s report showing the company raising more than $500 million in Q1, it’s likely 2020 inflows will exceed the year before…”