Grayscale reported an increase in interest in altcoins in the second quarter

Grayscale Investments, the digital asset manager, presented its new quarterly report on Tuesday. According to the publication, the amount of funds managed by Grayscale reached $2.7 billion for the first time and increased almost three times as much as in the previous quarter.

Total investment in Grayscale products in the second quarter amounted to $84.8 million, which is almost twice the value of the first quarter. The company notes that the new investments have become one of the drivers of the recent rise in prices of cryptocurrencies.

Grayscale products are in the highest demand among institutional investors - since July last year their share was 84%. The company also draws attention to the growing interest in products other than GBTC bitcoin trust. In the second quarter, they accounted for about 24% of the infusions, while in the first quarter they accounted for only 1%. In particular, trusts related to Ethereum and Ethereum Classic were of most interest to investors.

70% of investments came from market participants who already had tokens and converted them into Grayscale securities. According to official data, in the second quarter of the year Grayscale for the first time recorded a positive result on all its 10 investment instruments since the beginning of the formation of these reports.

Earlier, it was noted that the rapid rise of Bitcoin led to an even more confident growth of GBTC shares - against the background of an increase in overpayment, which is forced to be covered by investors.

Also this month, Grayscale resumed the closed placement of GBTC securities, offering accredited market participants the opportunity for periodic investment in accordance with the provisions of the law "On Securities".