Treasure Kept in a Safe Place – The rise of Grayscale Investments surprises every day. Its investment funds based on real bitcoin and cryptocurrency underlyings are increasingly attracting institutional investors. In addition, new records have just been broken.
Over 500,000 bitcoins in Grayscale’s assets
The first record broken by Grayscale concerns the king of cryptocurrencies, Bitcoin (BTC). The investment fund proudly announced that it exceeded the symbolic threshold of half a million bitcoins under its management.
In more detail, the company offers 535 million shares in its Grayscale Bitcoin Trust fund , each consisting of 0.00095 BTC . This therefore represents more than 508,000 bitcoins under management.
The Grayscale fund alone thus holds a little over 2.7% of the total supply of bitcoins currently in circulation (around 18.5 million BTC).
A total of nearly $ 10 billion in cryptoassets
Just days before this bitcoin record, Grayscale also announced that it had accumulated $ 9.8 billion in cryptocurrency in its custody.
The bitcoins (BTC) and ethers (ETH) represent the bulk of this war chest with respectively 8.2 and 1.2 billion of these crypto under management.
In the space of just one week since the previous report – where Grayscale reported $ 9.1 billion under his management – so $ 700 million has poured into cryptoassets.
Who could have imagined this a short time ago? An average of $ 100 million per day invested in Bitcoin and its main altcoins by institutional investors (main clients of these funds).