Digital asset management company Grayscale Investments has acquired the equivalent of a third of all bitcoins issued during the first quarter of 2020 for its GBTC trust.
Grayscale Bitcoin Trust’s weekly investment grows 10 times over the year
As noted by analyst Kevin Rook, the average investment in GBTC bitcoin trust in first quarter 2020 was $ 29.9 million in the first quarter 2019 the value was equal to $ 3.2 million. “Institutional money has come,” – Ruk comments on his own observations.
In the comments, Grayscale founder Barry Silbert wrote: “Just wait until you see the numbers for the second quarter.”.
Within 100 days by May 17, the number of bitcoins in the GBTC trust increased by more than 60 000 BTC, posted by a Reddit user. According to the data disclosed by the company, as of February 7, 2020, there were 283,192 BTC in GBTC, and three months later – 343,954 BTC. Growth rate has increased since early May.
“There is demand, emission has been reduced. Let’s see what this value will be in 100 days, ”the author notes..
The Ethereum trust ETHE is also growing. Its size is $ 276 million against $ 3.2 billion in GBTC. It is estimated that in present time Grayscale acquires the equivalent of about half of all ETH issued.
Grayscale supplies investment products to enable individual investors to buy and sell cryptocurrency through brokerage accounts. At the beginning of the year, the company registered with the Commission on securities and the US stock exchanges (SEC) for regular filing of reports, although the conditions for the placement of its products did not require this.
At the beginning of the week it became known about the achievement of another record of $ 3.8 billion in terms of assets under management in all Grayscale trusts.
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