July 17, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Grayscale Investments on Tuesday presented its new quarterly report. According to the publication, the amount of funds managed by Grayscale for the first time reached $2.7 billion and increased almost 3 times compared to the previous quarter.

The total investment in Grayscale products in the second quarter was $84.8 million, which is almost 2 times the value of the first quarter. The company notes that new investments have become one of the drivers of the recent rise in cryptocurrency prices.

Grayscale products enjoy the greatest demand among institutional investors — since July last year their share was 84%. The company also draws attention to the increasing interest in products other than the GBTC Bitcoin Trust. In the second quarter, they accounted for about 24% of injections, whereas in the first quarter they accounted for only 1%. In particular, the Trusts funds associated with Ethereum and Ethereum Classic caused the greatest interest of investors.

70% of investments came from market participants who already had tokens and converted them into Grayscale securities. According to official data, in the second quarter Grayscale recorded for the first time a positive result on all of its 10 investment instruments since the beginning of the formation of these reports.

It was previously noted that the rapid rise in the rate of Bitcoin led to an even more confident growth of GBTC shares — amid an increase in an overpayment, which investors have to cover.

Also this month, Grayscale has resumed the closed placement of GBTC securities, offering accredited market participants the opportunity to periodically invest in accordance with the provisions of the Securities Act.

Author: Marko Vidrih