It is estimated that Grayscale Investments, a mutual fund manager for cryptocurrencies and a subsidiary of Barry Silbert’s Digital Currency Group, has bought up to a third of all recently mined Bitcoin for the past three months in the middle of the halving period.
The announcement is made when the average weekly investment in Bitcoin Investment Trust or BITGrayscale reached $ 29.9 million in the first quarter of 2020.
The average weekly investment in the trust has increased by more than 800% compared to $ 3.2 million in the first quarter of 2019.
Grayscale investments absorb 34% of the new BTC
May 19th “Parakite” published estimates on Reddit that Grayscale has accumulated up to a third of all newly mined Bitcoin (BTC) in the past three months.
The Bitcoin Relief Fund was increased by purchases at 60,762 BTCThis corresponds to a rate of 607 bitcoins for 100 days.
By May 17, the fund had a total of 343,954 BTCan increase of 21% in three months.
BIT assets under management grew 80% within one year to reach USD 3.8
May 19th Grayscale announced that the value of its assets under management has reached $ 3.8 billioncompared to $ 2.1 billion in May 2019.
The data also showed that the company’s Ethereum Trust has become Grayscale’s second largest.This is equivalent to almost $ 290 million.