Crypto Investment Firm’s Revenue Reaches Record $330 Mln in 2018, Despite Bear Market
Cryptocurrency asset management firm Grayscale Investments Inc. has reported revenue of nearly $330 million in 2018, according to its third quarter (Q3) investment report released Nov. 1. The company managed to reach this figure despite a prevailing bear market.
In the report, Grayscale highlights that it raised $81.1 million over the last three months, which brought the firm’s year-to-date inflows to almost $330 million, representing an increase of almost 1,200 percent from the same period in 2017, when the company raised $25.4 million. The current year is the strongest Grayscale has experienced during any calendar year since the beginning of its activity.In Q3, institutional investment contribution reportedly increased to 70 percent, however, in comparison with the two previous quarters, the dollar-value invested remained lower. The Bitcoin Investment Trust saw 73 percent of inflows, while 27%
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