Grayscale Investments has announced a record quarterly performance, raking in $1.05 billion in investments, mostly from institutional investors. The company also sees “unprecedented demand” for bitcoin cash.
Record Quarter, Over $1 Billion Added
Grayscale Investments released its third-quarter performance Wednesday. The company tweeted:
We just recorded our largest ever quarterly inflows – over $1.0 billion in 3Q20 – making it the third consecutive record-breaking quarter. YTD investment into the Grayscale family of products has surpassed $2.4 billion.
Specifically, the company revealed that the total investment into its products in 3Q 2020 was $1.05 billion, noting that the majority of investment (81%) came from institutional investors, dominated by hedge funds. In the third quarter, offshore investors accounted for 57% of new investment capital into its products.
The total investment into Grayscale’s products was $2.7 billion over the 12-month period ending Sept. 30, which was more than double the $1.2 billion