Grayscale, the digital currency asset management company, announced yesterday that its "digital market capitalization fund" (DLC) share has been approved by the US Financial Supervisory Authority (FINRA) for public offering in the OTC market under the symbol GDLCF. This marks the introduction of the first publicly quoted securities whose value comes from a variety of digital currencies. Subsequently, Grayscale released its third quarter report for 2019 on official Twitter.
“Our “Gray Digital Asset Investment Report for the Third Quarter of 2019” highlights the investment activity and market performance of the entire grayscale product in the third quarter of this year. Spoiler Alert: This is a record quarter.”
Grayscale reported that although the price of the entire digital asset market has fallen recently, its investment inflows have tripled, "from $84.8 to $254.9 million." As part of the Digital Currency Group, grayscale investment products currently include open-quote Bitcoin Trust (OTCQX: GBTC), Ethereum Trust (OTCQX: ETHE), Ethereum Classic Trust (OTCQX: ETCG) and their FINRA-approved flagship Product Digital Large Market Capital Fund (DLC).
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Source of data: grayscale investment
According to the above chart, the inflow of funds in the third quarter of 2019 accounted for nearly 27% of the total cumulative inflow of grayscale products since their creation. Grayscale has raised $254.9 million over the past three months, with an average weekly investment of $19.6 million.
“In addition, 67% of the funds in this quarter flowed into the Gray Bitcoin Trust (GBT), and 33% of the funds flowed into other products. The segmentation of funds has been more balanced in the past 12 months.”
Source of data: grayscale investment
Due to regulatory issues, Grayscale's portfolio is dominated by US and offshore institutional investors, with more than 50% of investors coming from offshore markets. Although the above data may not accurately describe the entire cryptocurrency market, Grayscale hopes to "provide a unique insight into digital asset investment activities that is different from what is commonly understood."
