According to the report, Grayscale Bitcoin Trust secured $3.2 million in average weekly investment out of total average weekly investment of $3.3 million. As such, non-bitcoin investment products amounted to less than $0.1 million, the firm wrote.
Total investment into Grayscale Products increased from $30.1 million in Q4 2018 to $42.7 million in Q1 2019, with 73% of investors represented by institutional investors. The company also wrote that hedge funds increased their investments significantly from less than $1 million in Q4 2018 to around $24 million in Q1 2019.
Founded in 2013 by major crypto venture capital firm Digital Currency Group, Grayscale’s investment products include the publicly quoted Grayscale Bitcoin Trust (OTCQX: GBTC), Grayscale Ethereum Classic Trust (OTCQX: ETCG), and a diversified product called the Grayscale Digital Large Cap Fund.
On May 1, Grayscale debuted its provocative bitcoin commercial “Drop Gold,” urging investors to invest in Grayscale’s BIT instead of holding to gold, which the firm characterized as an old-fashioned asset that weighs down investors’ portfolio.