Grayscale Investments Report Assets Under Management of $2.7B

Digital asset management fund Grayscale Investments has recorded an all-time high volume of assets under management of $2.7 billion.

Per a Digital Asset Investment Report on Q2 2019 that Grayscale shared with Cointelegraph on July 16, the firm counted over $2.7 billion in assets under management as of July 15, 2019. The figure thus marks a near tripling of assets under management by the company since the preceding quarter.

Grayscale’s overall performance in Q2

Grayscale stated in the report that total investments into its single-asset and diversified investment products in Q2 2019 amounted to $84.8 million, which is nearly twice the amount the company saw in the previous quarter. The company notes that new investments were among major drivers of the recent surge of cryptocurrencies’ prices.

Of investors, institutional ones represented the highest percentage of total demand for Grayscale products, constituting 84%, since July 2018. Alternative investment also registered a sharp increase, wherein alternative currencies accounted for 24% of inflows in Q2 against 1% in Q1.

70% of investments accounted for investors converting tokens they already held into shares of Grayscale products. In general, Q2 ostensibly marked the first positive quarterly performance for all 10 of Grayscale’s investment vehicles.

As previously reported, Grayscale Investments’ Bitcoin Trust (GBTC) was up almost 300% on the year as of July 9. At the time, the trust was yielding a 296% year-to-date appreciation — a stratospheric increase as compared to mainstream investments reflected in the S&P 500 (18.7%) and Global Dow (12.9%) over the same time period.

Also this month, Grayscale Investments resumed private placement of GBTC shares, which is now offered periodically to accredited investors — as defined in Rule 501(a) of Regulation D under the Securities Act — for daily subscription.