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How Grayscale’s latest report proves bullish for bitcoin

How Grayscale’s latest report proves bullish for bitcoin
  • When it comes to institutional investment and the crypto space, Grayscale is often viewed as the trendsetter for the industry. 
  • The company’s quarterly reports are used to examine whether the institutional finances are coming into the crypto world or if they are leaving it.

When it comes to institutional investment and the crypto space, the company Grayscale is often viewed as the trendsetter for the industry. 

The company’s quarterly reports are typically used to examine whether the institutional finances are coming into the crypto world or if they are leaving it. Recently, the company published its first quarter results for this year and it showed more than $500 million inflows into the fund. On top of this, almost 90% of these inflows with institutional finances. It’s a big indicator that the cost for crypto as an asset class in the institutional world is increasing, albeit slowly.

According to the report, the company has recorded an inflow of over $500 million into all 10 of its crypto funds in the first quarter of this year. This is a massive milestone for the industry and the company as it marks the best quarter yet and represents double the inflows in the third quarter of last year which came in at just over $250 million.

Such an influx of finance comes despite the uncertainty and volatility being brought on due to the coronavirus. A reason for this is because many customers of the company see crypto assets as a medium to long-term investment opportunity and a well loved addition to their investment crypto portfolios.

When it came to the first quarter of this year and the report, new investors in the industry accounted for $160 million worth. However, it was specifically highlighted that just shy of 90% of all the influx in finance for the first quarter of this year came from institutional investors. This is a massive achievement for the industry as a big chunk of this came from hedge funds as according to the report.

For more news on this and other crypto updates, keep it with CryptoDaily!

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