For those wondering if there is still demand for crypto, look no further than Grayscale
Grayscale has released a total of 9 products since inception.
These products are investment trusts that hold a certain amount of crypto assets.
Several of them are trading on the open market and able to be purchased via traditional brokerages.
Examples of which include GBTC and ETHE which hold Bitcoin and Ether respectively.
(Source:
)https://twitter.com/GrayscaleInvest/status/1184459229089935360
- GrayscaleInvest
Demand for these products continues to increase...
Prices of bitcoin and the rest of the crypto markets have been in decline for much of Q3, however, that hasn't stopped the inflows.
Grayscale released a report today that showed record breaking inflows for the quarter.
According to Grayscale, they received $254.9 million from hedge funds during the quarter. A number that smashes previous records and continues to take overall net inflows to new highs.
(Source:
)https://twitter.com/GrayscaleInvest/status/1184459229089935360
- GrayscaleInvest
Not something you would expect to see when sentiment across the board has been so poor.
For anyone wondering whether institutions are still interested in crypto, look no further than Grayscale
The vast majority of investment comes from accredited investors and is not done on the open market.
This means these inflows are almost all coming from institutional/accredited investors as opposed to retail.
Showing that there is healthy demand out there from the institutional side.
Retail may be feeling down about bitcoin currently, but stats like these show us that the big money is not.
Stay informed my friends.
-Doc