Digital asset manager Grayscale said that investment in Bitcoin (BTC) and other cryptocurrency products reached $ 905.8 million in the second quarter of 2020 and total capital rose to $ 1.4 billion.
In the latest digital asset investment report, the firm says that 84% of investments come from corporate investors, primarily hedge funds. 81% of institutional investors invest in more than one product.
“Entries into Grayscale products over the first 6 months have crossed the $ 1 billion threshold, indicating constant demand for digital assets despite an environment characterized by economic uncertainty.”
Grayscale Bitcoin Trust Interest Grows
The firm said that the Grayscale Bitcoin Trust maintained its leadership in investment demands with entries of $ 751.1 million in the last quarter, marking 2020 Q2 as its fourth consecutive quarter-breaking quarter.
The company says that after the Bitcoin half event in May, entries into the Bitcoin Trust exceeded the number of newly produced BTCs in the same period.
In addition, Grayscale says other crypto resources are gaining momentum. The Grayscale Ethereum Trust recorded a $ 135.2 million entry, which accounts for about 15% of total entries in the second quarter. Grayscale Litecoin Trust has also exceeded investment records, and Grayscale Bitcoin Cash Trust has seen the biggest investment since the second quarter of 2018.