Q3 2018 Highlights2

  • Total Investment into Grayscale Products in Q3 2018: $81.1 million
  • Average Weekly Investment – All Products: $6.2 million
  • Average Weekly Investment – Grayscale Bitcoin Trust: $4.5 million
  • Average Weekly Investment – “Non-Bitcoin” Investment Products3: $1.7 million
  • Majority of investment (70%) has come from institutional investors.

YTD 2018 Highlights3

  • Total Investment into Grayscale Products in Q3 2018: $329.5 million (up 33% in Q3)
  • Average Weekly Investment – All Products: $8.4 million
  • Average Weekly Investment – Grayscale Bitcoin Trust: $5.5 million
  • Average Weekly Investment – “Non-Bitcoin” Investment Products5: $2.9 million
  • Majority of investment (59%) has come coming from institutional investors.

The Takeaway

 

Despite a slight deceleration in the most recent quarter, new investment into Grayscale products remains strong. Grayscale raised $81.1 million in Q3, bringing our year-to-date inflows to nearly $330 million. This marks the strongest year-to-date inflows through September that we’ve experienced during any calendar year since the inception of our business.

Capital inflows continue across the entire Grayscale family of products, but Bitcoin is still king. In Q3, 73% of inflows were into Grayscale Bitcoin Trust, while 27% were into Grayscale products tied to other digital assets.

Institutional investors remain engaged with Grayscale products, legging into their digital asset allocations over time. Institutional investors’ share of new investment increased to 70% in Q3, though the dollar-value invested was lower than in the two previous quarters.

A potential reversal? Grayscale Bitcoin Trust and Grayscale XRP Trust are bucking the trend on a possible reversal, generating the first positive quarterly returns for Grayscale products in 2018.

Download the full Grayscale Digital Asset Investment Report (Q3 2018) below.

1 As of September 30, 2018.
2 For the period from June 30, 2018 through September 30, 2018.
3 “Non-Bitcoin” Investment Products include Grayscale Bitcoin Cash Trust, Grayscale Ethereum Trust, Grayscale Ethereum Classic Trust, Grayscale Litecoin Trust, Grayscale XRP Trust, Grayscale Zcash Trust, Grayscale Horizen Trust, and Grayscale Digital Large Cap Fund LLC.
4 For the period from December 31, 2017 through September 30, 2018.
5 See footnote 3.
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