Crypto investment firm Grayscale Investments was invested $ 503 million in the first quarter of the year, which is 40 percent above the previous record.
Grayscale Investments, a crypto asset manager, one of the institutional investors’ entrance to cryptocurrencies, was invested $ 503.7 million in the first quarter of this year.
This figure is well beyond the $ 354.8 million recorded in the third quarter of 2019. It also accounts for 83 percent of the money collected in all of 2019. This large flow of money is thought to stem from the intense interest of institutional investors who have the opportunity.
According to the company’s statements, over the past 12 months, $ 1 billion has been exceeded and this is a new record for the company. Thus, the total value of assets managed by Grayscale surpassed $ 2.2 billion.
Institutional investors account for 88 percent of total investments in the first quarter of this year, and most of them are free investment funds. In the last 12 months, 79 percent of the investments came from institutional investors and the lion’s share was in free investment funds.
Weekly average investment grew 100 percent
The average weekly investment for all Grayscale products has been $ 20.6 million in the past 12 months. On the other hand, during the first quarter of 2020, this figure increased almost 100 percent and reached $ 38.7 million.