Institutional investors in the digital asset management company Grayscale Investments bought almost half of the Ethereum (ETH) mined in 2020. The company continues to be the leading vehicle for large investors committed to the emerging crypto market.Institutional grayscale investors top up their Ethereum reserves. According to the figures shared by Reddit user “nootropicat”, institutional buyers of Grayscale have bought almost half of the ETH, which have been added to the total range of cryptocurrencies since the beginning of 2020.The current calculation of nootropicat shows that around 1.56 million ETH were mined between December 31, 2019 and April 24, 2020. Grayscale issued 8,025,200 shares in the same period, which corresponds to around 756,000 ETH at 0.094 ETH per share.
Nearly half mined ETH bought by investors
With this, Grayscale investors bought around 48.5 percent of the previously mined ETH in 2020. This massive appetite for ETH among the company’s customers exists despite the massive 420 percent surcharge on the Ethereum fund from Grayscale.Grayscale buyers, who buy almost half of all mined ETHs, are part of an ongoing trend by the crypto asset fund manager, which is seeing increasing interest from institutional investors. In 2019, Grayscacel made investments worth $ 607 million, more than was generated between 2013 and 2018.As early as 2020, although only a quarter of the year has ended, the world’s largest crypto asset fund manager appears to be breaking the 2019 record. Grayscale recorded $ 503.7 million in investments between January and March, according to the company’s recently released Q1 2020 report.