Grayscale now owns over 500,000 bitcoin

The cryptocurrency fund manager, Grayscale Investments now owns over 500,000 BTC in its Bitcoin Trust.

According to a publication from November 16 Grayscale is now worth $ 8.35 billion in Bitcoin. This corresponds to 2.69% of the supply and the market capitalization of Bitcoin (BTC).

But with Chainalysis, who estimates that Around 3.7 million BTC have been lost. Grayscale now has 3.37% of the current Bitcoin supply.

Grayscale now owns over 500,000 bitcoin
Grayscale now owns over 500,000 bitcoin

To attract institutional investors willing to pay a premium for buying and owning cryptocurrencies through the safety of a regulated fund, Grayscale’s Bitcoin Trust shares are currently priced at $ 15.62 each but are changing hands for $ 18.86. This corresponds to a premium of almost 19%. Grayscale also charge an annual commission of 2%.

Grayscale’s Bitcoin Trust has aggressively amassed Bitcoin over the course of 2020. The amount of BTC in the fund rose nearly 50% over the past six months. This is a big increase in 2020 for a fund launched seven years ago, reflecting increased institutional interest.

The fund reported last week The largest weekly inflow received 15,907 BTC worth $ 215 million.

The Grayscale’s Ethereum Trust also increased its purchases in 2020 and now owns approximately USD 1,175 million in ether. or 2.24% of the total capitalization of ETH.

The other eight Grayscale crypto funds It currently manages nearly $ 400 million in assets. This brings the total value of the company’s digital assets under management to $ 9.9 million.

Digital asset holdings in grayscale. Source: Grayscale

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