The CEO of digital asset manager firm Grayscale, Michael Sonnenshein, revealed that the firm raised over $700 million on January 15, noting a momentum increase in raised capital since Q4 2020.

In Q4 2020, the company raked in $3.3 billion across its crypto investment vehicles, a record for the digital asset manager and more evidence of this rally’s institutional base.

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The Grayscale Bitcoin Trust (GBTC), which is by far the firms’ most popular product, led the pack in Q4 averaging $217 million raised per week.

Second to bitcoin’s GBTC was Grayscale’s Ethereum Trust, raising $26.3 million per week.

The latest data from Grayscale shows that on January 15, the firm reached a record $27.1 billion under management. For comparison, it entered 2020 with just $2 billion.

According to the Grayscale report, institutions are committing bigger and bolder amounts of capital into bitcoin. Per the report,  “Grayscale Bitcoin Trust accounted for 87% of all inflows to our product family, the highest proportion since 2Q17, further evidence of institutions looking to Bitcoin as a reserve asset.”

Bitcoin as an inflationary hedge is in the midst of an institutional frenzy.

Meanwhile, Ethereum patiently waits its turn as ETH reserves on exchanges continue to plummet.

Ethereum is still 13% away from all time highs.

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