More than $2.7 billion in crypto assets was under management by Grayscale Investments in Q2 of this year, according to a Q2 investment report published on Wednesday.

The firm, which is spearheaded by Digital Currency Group CEO Barry Silbert, stated that 84% of demand is comprised of institutional investors.

While the 2017 bull run for crypto was driven by retail investors intoxicated by hype, this year’s remarkable rally seems to be much more of an institutional-driven move.

This was reiterated by Grayscale, who said: “This quarter, institutional investors comprised the highest percentage of total demand for Grayscale products (84%) since we began publishing this report in July 2018.”

The firm added: “Grayscale assets under management (AUM) nearly tripled: Grayscale AUM grew from $926 million at the end of Q1 2019 to $2.7 billion at the end of Q2, and all ten investment vehicles included in the Grayscale family of products generated positive performance, net of fees for the first time.”

In line with the flailing price of Bitcoin, the amount of assets currently under management stands at around $2.5 billion.

“Inflows nearly doubled quarter-over-quarter, from $42.7 to $84.8 million, demonstrating that the recent rally in digital asset prices is supported by fresh investment, and despite the fact that the Grayscale Bitcoin Trust was temporarily closed to new investment throughout May and June,” the report continued.

For more news, guides, and cryptocurrency analysis, click here.

The post Grayscale hits $2.7 billion in crypto assets under management appeared first on Coin Rivet.