Grayscale raised $3.3 billion in Q4 2020

Digital asset manager Grayscale Investments, the world’s largest crypto investments, raised more than $700 million on Jan. 15 seeing increased momentum from Q4, according to CEO Michael Sonnenshein.

On Jan 15, Grayscale has a record $27.1 billion under management; it entered 2020 with just $2 billion.

In Q4 2020, the company raised $3.3 billion across its cryptocurrency investment vehicles, a record for the digital asset manager and further evidence of this rally’s institutional base.

Institutions have historically accounted for a majority of Grayscale inflows. This was especially true in 4Q20 as institutions accounted for 93% of capital inflows, or $3.0 billion. Grayscale Bitcoin Trust accounted for 87% of all inflows to our product family, the highest proportion since 2Q17, further evidence of institutions looking to Bitcoin as a reserve asset.

The average commitment among institutions is also growing at a significant pace. The average commitment from institutions was $6.8 million, up from an average of $2.9 million in 3Q20.

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