Grayscale Reports Record-Breaking Numbers in Q4 2020 Thanks to Bitcoin Investors

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Grayscale recorded its best year in 2020 yet with massive allocations, mostly from institutional investors, despite the dramatic events that plagued that year.

The cryptocurrency investment fund posted record-breaking numbers in the first three quarters of 2020 and profoundly better reports in Q4. The firm reported that the total investments in the last three months of the year amounted to $3.3 billion, while the total investment for the year came in at $5.7 billion. What this means is that 60% of the firm’s total investment came in Q4 alone.

Meanwhile, the firm noted that it had raised a total investment inflow of $1.2 billion since its inception from 2013 to 2019. This means that the investment inflows of 2020 were almost five times the inflow in the past six months combined.

Also, the cryptocurrency-based investment company highlighted the increasing influx of institutions, as about 93% of all investment inflows in Q4 2020 came from that group of investors. The firm added that “meaningful uptick alongside a number of public announcements from notable investors and asset managers.”

Grayscale noted that 45% of its total investments came from the United States, while the remaining 55% came from offshore investors.

As would be expected, Grayscale Bitcoin Trust attracted most of the investment from last year. In Q4 alone, GBTC garnered about $2.8 billion in investment inflows, a jaw-dropping 85% share of all investments.

Key BTC Levels to Watch — January 17

Bitcoin appears to be taking its time over the weekend as the benchmark cryptocurrency was range-bound through the weekend. At press time, BTC is on the verge of breaking the 50 SMA at $36,215, as bulls aim to defeat the $37,827 resistance. That said, only a sustained break above the crucial $39,800 resistance will reinstate the original bull trend.

On the flip side, a fall from this level should be swiftly repelled by the $34k support.

Meanwhile, our key resistance levels are at $36,500, $37,827, and $38,500. While our key support levels are at $34,474, $34,000 and $33,000.

Total Market Capitalization: $1.03 trillion

Bitcoin Market Capitalization: $680 billion

Bitcoin Dominance: 66%

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