Grayscale Digital Assets published its activity report for the past year, showing excellent results. Grayscale is one of the largest cryptocurrency investment funds.
In total, the investments managed by the company were approximately $ 607.7 million. This value exceeds the investments in digital assets managed between 2013-2018. In total, the value of investments in Grayscale products exceeded $ 1.17 billion.
The company offers investments in Bitcoin, Ethereum, Ethereum Classic, XRP, Zcash, Bitcoin Cash, Stellar Lumens and Horizen. The customer base increased by about 24% in 2019.
According to the report, in the third quarter of last year, investments reached 171.7 million dollars. In the fourth quarter, the value reached $ 193.8. The evolution is interesting, in the context in which the price of Bitcoin increased by 160% in the second quarter and decreased by 25%, respectively 10% in the fourth quarter.
Institutional investors prefer cryptocurrency investment funds
Grayscale has justified increasing the value of investments by expanding the customer base. New investors are responsible for 24% of the value of the assets under management.
Most of Grayscale’s clients (71%) are institutional investors and hedge funds. Investments made by high net worth individuals (HNWI) reached $ 93.2 million.
Overall, Grayscale’s old customers contributed $ 460.8 million in 2019. One-third of investors (36%) chose to distribute their interest on several types of cryptocurrencies. Bitcoin, however, remains the asset that dominates the invested capital. Grayscale Bitcoin Trust was also the asset that generated the highest profit last year.
Grayscale investors are relatively evenly distributed between the United States and offshore. In the fourth quarter, however, those residing in the US had a higher share.
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