Crypto asset manager Grayscale Invest revealed an inflow of $ 600 million last year, which exceeds the cumulative amount, if from 2013 to 2018.
In total, Crypto Asset Manager Grayscale products delivered investors a total amount of $ 1.17 billion. It is the grayscale Bitcoin Trust (GBTC) product, which allows investors to gain exposure to bitcoin without managing private keys, saw $ 193.8 million invested in it in Q4 2019.
According to Grayscale's "2019 Digital Asset Investment Report", $ 147 million of last year's total investment came from new clients, meaning 24% of the funds came from new investors. Of all its customers, 36% is said to be attributable to more than one of its products, thereby diversifying their crypto portfolio & # 39; s.
Institutions, such as hedge funds, constituted 71% of Grayscale's investors last year, compared to 66% in 2018. According to Forbes Michael Sonnenshein, on the sidelines of a cryptoconference in Switzerland, stated:
If the persistent question is & # 39; where are the settings investors in crypto? & # 39 ;, the answer is that they are here and appear in a meaningful size.
Sonnenshein added that the data is part of a long-term trend that we "have no reason to believe will not be sustained until 2020". Last year, as reported, Grayscale launched an advertising campaign telling investors to drop gold and buy bitcoin, which is often seen as an equivalent of digital gold.
The Grayscale report on its record year comes shortly after another report revealed that the Grayscale Bitcoin Trust is one of the top 10 equity interests of millennials and comes in fourth with 1.84%, only behind Tesla, Apple and Amazon. The report showed that millennials prefer to invest in GBTC than Berkshire Hathaway, Netflix, Microsoft and Alibaba.
Other generations have not included bitcoin-related products in their top 10 possession, showing that millennials are more open to cryptocurrencies, while other generations still prefer the Apple, Amazon, and Berkshire Hathaway shares.