Grayscale Investments cryptocurrency fund manager currently has over 500,000 BTC in its Bitcoin Trust.
Grayscale now has $ 8.35 billion dollars in Bitcoin, representing 2.69% of the Bitcoin offering and market value, according to a November 16 publication.
But with Chainalysis estimated to have lost around 3.7 million BTC, Grayscale can now own 3.37% of the remaining Bitcoin in circulation.
Grayscale Bitcoin Trust shares are aimed at institutional investors who are willing to pay a premium to buy and hold cryptocurrencies in a regulated fund security account, but are currently $ 15.62 in bitcoin, but change for $ 18.86 … this corresponds to approximately 19% of the premium. Grayscale also requires an annual fee of 2%.
The Grayscale Bitcoin Trust has actively accumulated bitcoins throughout 2020, with the amount of BTC held in the fund increased by almost 50% over the past six months. This marks a sharp increase in 2020 for a fund that was established seven years ago, and indicates a sharp increase in institutional interest.
Last week, the fund announced its largest weekly inflow – 15,907 BTC worth $ 215 million.
Ethereum Trust Grayscale has also increased its purchases in 2020 and now owns approximately $ 1.175 billion Ether (ETH), or 2.24% of the total ETH market value.
Eight other Grayscale cryptocurrency funds currently manage nearly $ 400 million in assets, bringing the total value of digital assets managed by the company to $ 9.9 million.