Cryptocurrency asset manager Grayscale Investments has added $1.4 billion to its assets under management (AUM) this month alone, bringing its total AUM to $7.3 billion, up from $5.9 billion at the beginning of the month.
Grayscale’s record month comes after the third quarter of the year saw it raise $1.05 billion into its investment products, making it the “largest capital inflow in a single quarter in the firm’s history.”
In its financial report for the third quarter of the year, Grayscale detailed that the Grayscale Bitcoin Trust (GBTC) product kept on leading investment demand with inflows of $719.3 million in the quarter, which helped its assets under management grow 147% year-to-date. Its family of products saw investments of over $2.4 billion up until the report was released, doubling the $1.2 billion cumulative inflows into its products from 2013-2019.
The data the firm shares on social media appears to show GBTC has kept on leading, with around $1.2 billion of inflows this month alone, from $4.8 billion to $6 billion in assets under management. Barry Silbert, founder and CEO of the Digital Currency Group, of which Grayscale Investments is a subsidiary, pointed out on social media the firm added a “cool” $300 million to its AUM in one day.
Grayscale’s financial report for Q3 pointed out that the majority of its inflows came from institutional investors, which accounted for 81% of the investment in that month. It also pointed out investors continued to broaden their exposure to cryptoassets, as 57% of the funds came from investors with exposure to various Grayscale products.
As CryptoGlobe reported, Grayscale’s Ethereum product, ETHE, reportedly holds 2% of all ETH in circulation, according to Silbert.
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