Bitcoin Trust investing 2 million per week in Q4

Bear Market? Grayscale Bitcoin Trust Averaged $2 Million Invested Per Week in Q4 2018 P. H. Madore 16/02/2019 Crypto, News

Grayscale, the creator of GBTC, had an average of $2 million invested every week during the 4th quarter of 2018. About 66% of all investments came from institutions, while 88% of all Grayscale digital investments were in Bitcoin. Just 12% of investments were directed at other digital assets, leading Grayscale to declare the “return of the Bitcoin Maximalist” in their quarterly report.

Investments across the board were down in 2018 as the bear market took over. Yet, Grayscale had its best year so far, with over $359 million in investments. The Bitcoin Investment Trust’s GBTC product has been running for a few years now. With over $359 million in investments, Grayscale had its best year in 2018

Interestingly, the growth was almost 300% over 2017, the year of the largest Bitcoin bull run in history.

The GBTC product is clearly the most attractive to investors. However, the company believes that other digital assets are going to thrive in the future.

Despite a slowdown in investment across products in the fourth quarter, we continue to see evidence that digital assets are here to stay as a new asset class. Moreover, we believe in a future where multiple digital assets survive, thrive, and complement one another in the digital economy, allowing them to play a diversifying role within investor portfolios.

40% OF INVESTMENTS WERE RETIREMENT ACCOUNTS IN Q4
Roughly 40% of the investments in the fourth quarter were from retirement accounts.

GBTC is one of the many products that could be bought by the Blockchain Opportunities Fund. It was recently more than 50% funded by a single county in Virginia. Two retirement funds in Fairfax County were responsible for $21 million of $40 million total invested into Morgan Creek Digital’s fund.

courtesy of ccn.com