In the last quarter of 2018, the bitcoin market experienced a slump that led to a significant decline in value and several blockchain-related firms closing down.

Despite the bear market, some firms were still able to come out on top, one of which is Greyscale bitcoin trust, the creators of GBTC. They have reported that during that time, they saw an average of $2 million in weekly investments.

According to their quarterly reports, 66 percent of all investments came from institutions, while 88 percent of all digital investments were in Bitcoin, with only 12 percent going to other digital assets offered in their roster.

In 2018, global crypto investments took a hit, but not for Greyscale, who saw $359 million total investments for 2018, making it their best year yet, with most of it coming from their Bitcoin Investment Trust’s GBTC.

While the GBTC reins supreme for now, Greyscale management is confident that other digital assets will become more attractive to investors as time goes on.

“Despite a slowdown in investment across products in the fourth quarter, we continue to see evidence that digital assets are here to stay as a new asset class. Moreover, we believe in a future where multiple digital assets survive, thrive, and complement one another in the digital economy, allowing them to play a diversifying role within investor portfolios,” they said.

One interesting trend that has been observed is the fact that more and more pension funds are investing in crypto. In the last quarter of 2018, 40 percent of all investments came from pension funds and just recently, two funds in Fairfax, Virginia invested $21 million in Morgan Creek Digital’s fund.

When first launched, the GBTC was meant to represent the value of 0.1BTC but has since seen a sharp increase in value, as evidenced by Q4’s massive returns.

Some insight to the matter was given by the Bitcoin Trust, which said,

“There can be no assurance that the value of the shares will approximate the value of the Bitcoin held by the Trust and the shares may trade at a substantial premium over or discount to the value of the Trust’s Bitcoin. The Trust may, but will not be required to, seek regulatory approval to operate a redemption program.”

While GBTC is seeing steady interest, investment in both GBTC and crypto assets, in general, are expected to skyrocket once a possible crypto ETF is announced.

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