Read on Twitter
Grayscale's quarterly report has just hit the wire:
- Inflows into its various cryptocurrency funds soared to an all-time high of $503.7 million.
-More than $1 billion was raised in last 12 months.
- 88% of investors were institutions
- Inflows into its various cryptocurrency funds soared to an all-time high of $503.7 million.
-More than $1 billion was raised in last 12 months.
- 88% of investors were institutions
What's interesting is that investors continued to steadily pour money into its funds up until the week ending in March 20. Momentum then appeared to lose some steam + ETH has flipped BTC in recent weeks
There's a chance that institutional investors have lost faith in bitcoin's safe-haven/hedge value prop following the March 12-13 sell-off. But it could be too early to tell and @Sonnenshein says the firm will "look to continue to build off the momentum."
Another interesting chart is the breakdown of Grayscale's hedge fund clients by strategy type. They range from large "multi billion dollar funds" to "global macro funds" to "multi-strat," according to the firm. Not just crypto-native investors.
I was pretty surprised about the strength of this quarter as I would have expected most investors to flee to cash, but Grayscale isn't the only firm seeing steady inflows. @BitwiseInvest said they have seen seen an uptick in flows and interest.
Also, holy VIX.
Full post for you to read here: https://www.theblockcrypto.com/post/62032/grayscale-quarter-report-record-inflows-crypto
