Bitcoin surge lifts Grayscale assets by over 900% to record $20 billion in 2020

Grayscale, the world’s largest digital currency manager, said on Thursday its assets under management surged more than 900% to $20.2 billion at the end of last year, lifted by record inflows in the fourth quarter and the surge in the price of bitcoin.

The cryptocurrency manager started 2020 overseeing $2 billion in assets.

In a report, Grayscale said it saw record investor demand in the fourth quarter, with approximately $3.3 billion in inflows. Investments into the Grayscale products surpassed $5.7 billion during 2020, more than four times the $1.2 billion cumulative inflow from 2013-2019.

Also helping Grayscale’s cause was a sky-rocketing bitcoin, which hit an all-time peak of $42,000 last week. Bitcoin was last up 6.4% at $39,748. In 2020, bitcoin soared more than 300%.