Cryptocurrency investment firm Grayscale Investments reported that its assets under management in 2019companies increased by $ 607 million.
According to Grayscale's 2019 report, customerstransferred $607.7 million under the company’s management. This is more than for the entire period of the company’s existence from 2013 to 2018. Grayscale currently manages $1.17 billion in client funds.
The 3rd and 4th quarters of the last year became especially successful - at that time $ 225 million per quarter was raised. Grayscale Bitcoin Trust also posted excellent growth of $ 193.8 million in Q4.
In addition, Grayscale reported an increasecustomer base at 24%. Last year, new customers invested $ 146.9 million, while more than a third of customers (36%) use not one, but several investment products of the company.
A significant portion of the investment came frominstitutional investors, mainly from hedge funds. If in 2018 financial institutions provided 66% of new investments, in 2019 their share increased to 71%.
“As the largest digital management companyassets, we believe that our data show market sentiment and institutional investors' interest in digital assets. I think that much happened in the 4th quarter of last year, which strengthened the positive mood of the market for cryptocurrencies, ”said a representative of Grayscale.
Let us recall that in November last year the company announced the launch of a diversified investment product of five cryptocurrencies for open trading - Grayscale Digital Large Cap Fund.</p></p>