Cryptocurrency fund manager Investments in shades of gray now has more than 500,000 BTC in its Bitcoin Trust.
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.