Everyone is focused on the Grayscale Investments’ Bitcoin Trust (BTC) which is considered as the largest fund of the firm and accumulation of bitcoins into it. Though institutional investments have been increasing during the three quarters of 2020, the crypto assets management firm Grayscale’s Ethereum Trust (ETHE) has also been witnessing a significant increase in its ETH holdings as well.
Ethereum Trust has 2% of ETH’s total circulating supply
According to the Co-Founder and Chief Executive Officer (CEO) of Grayscale’s parent company Digital Currency Group (DCG) Barry Silbert has said in a tweet that where people’s entire focus is on the accumulation of BTC into the Bitcoin Trust, their Ethereum Trust has also been steadily growing. Grayscale Ethereum Trust now holds approximately 2 percent of the total circulating supply of Ethereum (ETH), according to Silbert.
This shows that institutional interest has not only been growing in the world’s largest digital currency Bitcoin but the second-largest cryptocurrency in the world by market cap Ethereum has also seen a significant increase in the institutional interest over the course of recent times. Grayscale’s Bitcoin and Ethereum Trusts holdings show that institutional investors are throwing more and more investments into these two top crypto assets in the world.
Q3 2020 was the record-breaking quarter for Grayscale
These remarks from the Digital Currency Group’s CEO have come right after Grayscale issued its report for the third quarter. As per the Grayscale Investments’ Q3 2020 financial report, the third quarter of the year 2020 has been the record-breaking quarter for Grayscale so far. In this quarter, the crypto assets management firm saw an inflow of more than $1 billion all across its digital currency products.
Its Bitcoin Trust was on the top in the third quarter as it reported an inflow of approximately $720 million in this quarter. With this, the Year-to-Date (YTD) investment products of Grayscale crossed the $2.4 billion figure. With over $1 billion added into Grayscale’s total investment products, the firm’s amount of assets under management (AUM) now stands at around $6 billion.