Cryptocurrency fund manager Investments in shades of gray now has more than 500,000 BTC in its Bitcoin Trust.
According to a November 16 postGrayscale now contains $ 8.35 billion worth of Bitcoin, which equates to 2.69% of Bitcoin’s (BTC) excellent supply and market capitalization.
But with Chainalysis estimating that 3.7 million BTC has been lost, Grayscale may now own 3.37% of Bitcoin’s remaining circulating supply
Appealing to institutional investors willing to pay a premium to buy and hold cryptocurrency through the security of a regulated fund, shares in the Grayscale Bitcoin Trust currently represent $ 15.62 worth of Bitcoin each, but will change hands for $ 18.86. This amounts to a premium of almost 19%. Grayscale also charges an annual fee of 2%.
Grayscale Bitcoin Trust now has more than 500,000 $ BTC. Yes, you read that right. Find out more about the world’s largest #Bitcoin investment product. #GoGrayscale https://t.co/2sEpUdw8iN pic.twitter.com/9h8nGZ8i4t
– Grayscale (@Grayscale) November 16, 2020
The Grayscale Bitcoin Trust has aggressively built Bitcoin in 2020, with the amount of BTC held by the fund nearly increasing 50% in the past six months. That’s a surge in 2020 for a fund launched seven years ago and suggests a snowball effect of institutional interest.
Last week the fund reported his largest weekly intake ever, with 15,907 BTC worth $ 215 million.
Grayscale’s Ethereum Trust also increased its purchases in 2020 and now owns approximately $ 1.175 billion Ether, or 2.24% of the full capitalization of ETH.
Grayscale’s eight other crypto funds currently manage nearly $ 400 million in assets, bringing the total value of the digital assets managed by the company to $ 9.9 million.
