Asset manager Grayscale has reached deep into its pockets and replenished the BTC treasury.
Grayscale, the largest asset manager for digital currencies, has used the interim price slump to further fill the Bitcoin Trust (GBTC). In the last seven days, the asset manager has added around 17,100 Bitcoin with a value of over 186 million US dollars to the GBTC. The total volume of the trust now amounts to 490,900 BTC, or over 4.9 billion US dollars at the current exchange rate. The total volume of all assets managed in crypto trusts (assets under management, AUM) is thus 5.8 billion US dollars.
Display Crypto Arbitrage: Low Risk – High Return Earn a passive income with ArbiSmarts interest bearing wallet and fully automated Crypto Arbitrage trading system. Benefit from an EU licensed and regulated platform that offers investments with a return between 10.8% and 45% per year. Learn more Display
Bitcoin Trust is by far the largest in the asset managers portfolio. The Ethereum Trust follows far behind in second place with over 780 million US dollars.
Due to the latest investment, Grayscale is increasingly turning into a giant whale in crypto waters. Consequently, around 2.6 percent of the total circulating BTC supply is currently in the hands of the asset manager. As can be seen in the following chart, Grayscale has also timed its investment well and bought at comparatively favourable conditions on the market.
Ad Trade Bitcoin on Plus500 Trade Bitcoin, Ethereum, Ripple, IOTA and the most popular Crypto Currencies (CFD) on Plus500 securely. Why Plus500? Leading CFD trading platform; 40,000 EUR demo account; mobile trading app; strong leverage; wide range of financial products (crypto currencies, gold stocks, commodities, ETFs, forex, indices). Open an account now 76.4% of retail investor accounts lose money when trading CFDs with this provider [View].