Crypto - Grayscale sees record breaking inflows for crypto products in Q3
For those wondering if there is still demand for crypto, look no further than Grayscale
Grayscale has released a total of 9 products since inception.
These products are investment trusts that hold a certain amount of crypto assets.
Several of them are trading on the open market and able to be purchased via traditional brokerages.
Examples of which include GBTC and ETHE which hold Bitcoin and Ether respectively.
(Source: https://twitter.com/GrayscaleInvest/status/1184459229089935360)
Demand for these products continues to increase...
Prices of bitcoin and the rest of the crypto markets have been in decline for much of Q3, however, that hasn't stopped the inflows.
Grayscale released a report today that showed record breaking inflows for the quarter.
According to Grayscale, they received $254.9 million from hedge funds during the quarter. A number that smashes previous records and continues to take overall net inflows to new highs.
(Source: https://twitter.com/GrayscaleInvest/status/1184459229089935360)
Not something you would expect to see when sentiment across the board has been so poor.
For anyone wondering whether institutions are still interested in crypto, look no further than Grayscale
The vast majority of investment comes from accredited investors and is not done on the open market.
This means these inflows are almost all coming from institutional/accredited investors as opposed to retail.
Showing that there is healthy demand out there from the institutional side.
Retail may be feeling down about bitcoin currently, but stats like these show us that the big money is not.
Stay informed my friends.
-Doc
Retail side is quickly sliding down. The premium on GBTC has collapsed from 35% to 11.67% today. Some say the premium reflects retail BTC market sentiment which is horrible at the moment. Hmmm, retail being beat to a pulp while institutions load up cheap. That wouldn't be a plan, now would it?
Yep, sounds pretty familiar right?
Just wait until Christmas rolls around and all the retail owners find themselves sitting on that nice winter bonus. Wouldn't it be nice to invest in 'something' rather than let the FED devalue their haul?
This is exactly what we should expect from institutional investors;
get in while retail is taking a break.
It's small activity like this happening now that will turn into a big wave 3 months down the road.
If we got some nice appreciation before then I think we could see the holidays be very kind to crypto, we just need a rally going into them to help spark some interest again. :)
agree with both you and edicted here and good post bud
cheers
Thanks Nick.
Follow what the big money does
Usually pretty good advice.
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@tipu curate
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