cryptocurrency fund manager Grayscale Investments now has over half a million Bitcoins in its Bitcoin Trust, with a total value of over $ 8.3 billion.
According to a statement published on Monday, Grayscale now has $ 8.35 billion worth of Bitcoin - equivalent to 2.69% of the supply and market cap of Bitcoin (BTC).
But with (China Lissys) estimating a loss of about 3.7 million Bitcoins, Grayscale may now own 3.37% of the remaining traded supply of Bitcoin.
and by appealing to institutional investors willing to overpay to buy and hold digital currencies through the safety of a structured fund, shares in the Grayscale Bitcoin Trust currently represent $ 15.62 worth of Bitcoin. Each, however, is changed for $ 18.86, which is roughly equivalent to an increase of 19%, noting that Grayscale also charges an annual fee of 2%.
Grayscale Bitcoin Trust raised Bitcoin massively in 2020, with the amount of Bitcoin the fund holding by nearly 50% in the past six months. This represents a sharp rise in 2020 for the fund that was launched 7 years ago, and suggests growing institutional interest.
Last week, the fund announced its largest weekly inflow ever, generating 15907 BTC worth $ 215 million.
The Grayscale Ethereum Trust has also boosted its purchases in 2020, and now owns nearly $ 1.175 billion of Ethereum, or 2.24% of Ethereum's total equity.
Grayscale's other eight digital currency funds currently manage nearly $ 400 million in assets, bringing the total value of the digital assets managed by the company to $ 9.9 million .
