According to Grayscale’s latest report, in Q3 of 2019 the Grayscale Bitcoin Trust saw the largest quarterly inflow of $171.1 million in its 6 year history. Across all products, Grayscale reported a growth of over 200% inflow quarter-over-quarter. This is despite a -20% (approx.) decrease in bitcoin’s price over the same period. With approx. $9 billion worth of GBTC shares traded through November, the Grayscale Bitcoin Trust is one of the most active traded securities on OTC Markets in 2019.
Over the last two years several other institutions have made their way into the cryptocurrency markets, including TD Ameritrade, Fidelity, Goldman Sachs, ICE (parent of NYSE), DV Trading & many more. With the right infrastructure being built by trusted financial powerhouses, cryptocurrency is well on its way to becoming an established asset class for institutional investors.
Key Takeaways:
- In Q3, Grayscale witnessed, inflows of $254.9 million marks the strongest demand for Grayscale products since firm inception: Inflows tripled quarter-over-quarter, from $84.8 to $254.9 million, despite recent declines in digital asset market prices.
- Grayscale Bitcoin Trust saw $171.7 million in inflows: In Q3 of 2019, Grayscale saw the heaviest quarterly inflows to Grayscale Bitcoin Trust in the product’s six-year history.
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