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Institutional interest in Ethereum surges in 2020 Q1 amid the ongoing economic crisis

CRYPTOS |  Apr 20, 23:01 GMT

 

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• Grayscale’s Q1 report shows that the institutional interest in Ethereum has been skyrocketing in the past couple of months.
• In the first quarter of 2020, investors have injected $110 million into the Grayscale Ethereum Trust. 
• DTC Capital exec said that Ethereum had reached a turning point with high-net-worth investors.

Recent Grayscale data shows a surge in institutional investment in Ethereum and Bitcoin. Grayscale’s Q1 2020 report highlighted the increasing interest in Ethereum and the massive amounts of money that the company has received from investors. It is noteworthy that there has been a record quarterly inflow into the Grayscale Ethereum Trust during this period.

Spencer Noon, the head of crypto investments at DTC Capital, said that Ethereum has reached a turning point with high-net-worth investors.

Institutional investors are buying ETH. The cat is officially out of the bag. From the latest Grayscale report: 

[Grayscale] Ethereum Trust saw $110M in Q1 inflows. This is more than all of its previous inflows combined for the past 2 years ($95.8M).

The last few weeks of this quarter witnessed inflows into Ethereum that actually surpassed Bitcoin. In the first quarter, investors poured a whopping $389 million into the Grayscale Bitcoin Trust in addition to the $110 million invested in the Grayscale Ethereum Trust – totaling $498.9 million.