Grayscale Says Institutions Invested Record $900M in Crypto Products in Q2

Grayscale has reported its best quarter ever after it raised a total of $906 million for its crypto products in Q2 2020.

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The New York-based fund provider reported two consecutive record quarters Wednesday, with more than $400 million increase in capital inflows quarter-on-quarter.
Grayscale raised $500 million in Q1 2020 – the previous record.
Overall, Grayscale raised $1.4 billion in the first half of this year, the first time capital crossed the billion-dollar mark in a six month time frame, it said.
Grayscale is part of Digital Currency Group, CoinDesk's parent company.
The firm creates single asset funds that allow investors to gain exposure to cryptocurrencies in a regulated asset-class.
This week's results mean total cumulative inflows into Grayscale's products since inception has more than doubled to $2.6 billion.
The vast majority of commits (85%) came from institutional investors in H1 2020; Grayscale said most have started diversifying away from just bitcoin.
Total capital inflows into altcoin products increased 35% quarter over quarter; it's up nearly 650% over the 12-month period.
Inflows into the Ethereum Trust made up 15% across the whole product range in Q2 2020: an all-time high.
Bitcoin trust inflows came to $751 million in the same quarter; Grayscale successfully registered it with the Securities and Exchange Commission (SEC) in January.

Also read: Fidelity Digital Assets to Custody Bitcoin in Kingdom Trust Retirement Accounts

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