The capital of the Grayscale funds reached $ 2.7 billion in the second quarter of 2019

The company Grayscale Investments has published the results of its financial activities, according to which the amount of funds under the management of the fund has increased almost 3 times compared with the previous quarter.

In published
The report for the second quarter states that Grayscale’s capital reached $ 2.7 billion. The amount of investments in the company’s products amounted to $ 84.8 million – almost twice the value of the previous quarter. According to representatives of the fund, the recent growth of the cryptocurrency market is to some extent associated with new investments.

Institutional investors are particularly active – since July last year their share was 84%. The report also draws attention to the increasing interest in products other than GBTC Bitcoin Trust. In the past quarter, they accounted for 24% of investment, while in the first indicator it was only 1%. The greatest interest is the trusts associated with Ethereum and Ethereum Classic.

70% of the investments came from market participants who had previously owned cryptocurrencies and converted them into Grayscale securities. The second quarter of this year was the first in the entire history of the formation of such reports, when a positive result was recorded for all 10 investment instruments of the company.

Earlier it was reported that the rise in the rate of Bitcoin provoked even more rapid growth stocks GBTC. From February 6 to the end of June, securities rose by more than 300%, while Bitcoin itself rose by 223%.

Grayscale recently resumed
GBTC private placement, which only accredited investors have access to.