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Crypto Investment Up 300% in Third Quarter, Grayscale Reports

October 15, 2019

Via: Fortune
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Grayscale Investments, which offers investors access to Bitcoin and other cryptocurrencies in the form of shares, on Tuesday reported a record third-quarter inflow of over a quarter of a billion dollars.

In a report, the New York-based investment firm said Q3 inflows amounted to $254.9 million, which is triple the $85 million it posted the previous quarter, and that 84% of the new funds came from hedge funds and other institutional investors.

Grayscale’s third quarter investment figure is striking in part because the crypto market has been in a slump during this time. While a rally earlier this year saw the price of Bitcoin hit $12,000 in July, its value has fallen by around a third since then.

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