Grayscale: Half A Billion Invested In Quarter 1
Grayscale provided its Quarter 1 report.
It showed that Institutional Investors pumped $498 Million into Bitcoin and Ethereum during the first quarter of 2020.
The crypto fund is one of the largest with billions under management. It is one that the fund actually owns the cryptocurrency.
Across the entire quarter, investors poured a record $389 million into the Grayscale Bitcoin Trust in addition to the $110 million invested in the Grayscale Ethereum Trust – for a total of $498.9 million.
The investment in Ethereum surpassed all inflows the past two years.
The report also showed that Ethereum investment actually outpaced Bitcoin's the last couple weeks of the quarter.
Ethereum is starting to appear on the radar of high net worth investors.
There is a lot of news regarding the number 2 cryptocurrency of late. For the first time every, Ethereum matched Bitcoin for amount of total dollar volume of transactions in a day.
Institutional investors are starting to take notice. "The cat is now out of the bag" for not only Bitcoin but also Ethereum.
With the global markets under pressure, many feel that cryptocurrency is a viable alternative. So far, this has not showed to be true but things can turn quickly.
Grayscale is important because most of its customers are institutional money. Seeing such input in one quarter could mean that the tide is turning for cryptocurrency.
Over the past couple years, the industry has built a lot of the infrastructure out. This will make things more attractive to big money players.