Grayscale saw the largest influx of institutional investors in history, with an increase of 15,907 BTC in a single week

In the week ending October 29, the Grayscale Bitcoin Fund (GBTC), owned by global crypto asset management company Grayscale, saw its largest weekly inflow of approximately $215 million.

Rising inflows indicate continued demand for cryptocurrencies among traditional financial players.

Grayscale’s Bitcoin, Ethereum Funds Are Attracting More and More Institutional Participants

Grayscale offers accredited investors the opportunity to invest in digital currencies through shares backed by digital assets.

GBTC shares represent the trust's bitcoin holdings, which increase its holdings by an amount equal to the value of shares issued by the investment fund.

Last week, GBTC added 15,907 bitcoins worth $215 million, representing a continued increase in the number of shares issued. The total value of GBTC under management is currently $6.41 billion (481,711 BTC). At the current rate of increase, Grayscale is expected to manage 500,000 BTC by the end of the year.

Grayscale’s Bitcoin inflows (red), USD additions (yellow), GBTC share issuances (blue). Source: Twitter

In addition to Bitcoin, the company also offers investments in other cryptocurrencies such as Ethereum, Bitcoin Cash, Litecoin, Ethereum Classic, Zcash, XRP, Stellar Lumens, and Horizen.

Grayscale’s Ethereum Fund (ETHE) has also shown linear growth since April 2020. The fund added 75,419 ETH worth $28.5 million yesterday, expanding the total value of ETHE to $914.9 million.

ETH accounts for 12% of Grayscale’s total assets under management, leading other altcoins, while GBTC accounts for as much as 86.6%.

Given that investments in Grayscale products are limited to accredited investors, the rise in GBTC and ETHE shares suggests that institutions are piling into the crypto market.