Grayscale’s Bitcoin (BTC) Trust will reach 500,000 BTC by the end of 2020.
Grayscale registered a record inflow of $ 215 million (15,907 BTC) last week, more than any previous investment in the trust. The company currently owns $ 6.7 billion (481,711 BTC) at the time of writing.
Had the company continued to grow at 32,000 BTC last month, the grayscale would be poised to hold 500,000 BTC (2.7% of current supply) for three weeks. By the end of next year, if the rate is constant, the gray scale could be driving 926,600 BTC, which is 5% of the total current Bitcoin supply.
Bitcoin Trust Investments in Grayscale in 2020. Source: Salt Grain
Founded in September 2013, the trust has grown exponentially this year, with assets under management, or AUM, growing from $ 1.9 billion to $ 4.7 billion in the first nine months of 2020. .
Nearly 70% of Grayscale’s total weekly inflow has been invested in Bitcoin Trust over the past three quarters. Bitcoin Trust’s weekly inflow grew from a 12-month average of $ 39.5 million to over $ 55 million in the third quarter, of which 84% were attributed to institutional investors.
Grayscale published its second Bitcoin Investor Study last week, in which the company found that the number of US investors interested in investing in BTC has grown from 36% in 2019 to 55% in 2020.
There are many more grayscale bitcoins than any other publicly traded company (although the fund is not directly comparable to a company holding BTC as a reserve). On October 13, the remaining 12 companies owned approximately 150,000 BTC, with notable assets held by Microstrategy (38,250 BTC), Mike Novogratz’s Galaxy Digital (16,551 BTC) and Jack Dorsey’s Square (4,709 BTC).