Leading Cryptocurrency Investment Firm Has Record First Half

Cryptocurrencies may be stuck in a bear market, but one leading digital asset investment firm had record inflows in the first half of 2018.

New York-based Grayscale Investments pulled in almost $250 million in new investment capital in the first six months of this year, the best showing since the company's founding in 2013.

More than half of the new investment came from institutional investors.

The average investment of institutional investors was about $850,000.

Twenty percent of the inflows came from accredited investors, meaning they had a net worth of at least $1 million, excluding the value of their primary residence.

Grayscale says the scale of inflows shows that investors view "falling prices as an opportunity."

Grayscale oversees the Bitcoin Investment Trust and seven other crypto-based funds. It manages $2 billion in assets.