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.
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 Bitcoin Trust now holds more than 500,000 $ BTC. Yes, you read that right. Find out more about the largest in the world #Bitcoin Investment product. #GoGrayscale https://t.co/2sEpUdw8iN pic.twitter.com/9h8nGZ8i4t
– Grayscale (@Grayscale) November 16, 2020
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.