Big Whale Investment: Bitcoin and Billions of Dollars Flowed into These 3 Altcoins!
Digital asset manager Grayscale announced that access to Bitcoin (BTC) and other crypto investment products reached $ 905.8 million in the second quarter of 2020. In addition, Grayscale said that total capital rose to $ 1.4 billion in the first half of the year.
Grayscale: $ 1.4 billion flowed into bitcoins and altcoins in the first half of the year!
In the latest digital asset investment report, Grayscale says that 84% of investments come from institutional investors, primarily hedge funds. 81% of returning corporate investors invest in more than one product. The company makes the following statement in the digital asset investment report:
FOR THE FIRST TIME, ENTRIES INTO GRAYSCALE PRODUCTS OVER A 6-MONTH PERIOD HAVE CROSSED THE $ 1 BILLION THRESHOLD, INDICATING CONSTANT DEMAND FOR CRYPTOCURRENCIES DESPITE A BACKGROUND CHARACTERIZED BY ECONOMIC UNCERTAINTY.
The firm emphasizes that the Grayscale Bitcoin Trust has maintained its leadership in investment demands with entries of $ 751.1 million in the last quarter. With these figures, the Grayscale Bitcoin Trust broke its fourth consecutive record in the second quarter of 2020.
Grayscale: More Bitcoin purchased than after Halving
The company says that after May’s halving event in May, the entry to Grayscale Bitcoin Trust exceeded the number of newly released BTCs in the same period. In addition, Grayscale states that other cryptocurrency sources are gaining momentum. The Grayscale Ethereum Trust recorded $ 135.2 million in capital, which accounts for about 15% of total inflows in the second quarter. Grayscale Litecoin Trust has also exceeded investment records, and the Grayscale Bitcoin Cash Trust has seen its biggest capital inflow since the second quarter of 2018.