Grayscale Investments accounts continue to grow with bitcoin as the main provider. Indeed, the cryptocurrency fund manager announced on November 16 from her Twitter account that she now held more than 500,000 BTC in the trust that was intended for her. This total brings the value of the affected pack to over $ 8.35 billion in Bitcoin (BTC), a number that could increase in the wake of the rise in bitcoin.
An increase of almost 50% in the past six months
With over 500,000 BTC to its credit, the Grayscale Bitcoin Trust has become one of the world’s largest Bitcoin investment products. Launched 7 years ago, the fund will have recorded in this year 2020 an increased interest in its product intended for bitcoin despite the effects of the coronavirus crisis. All bitcoins accumulated in the current year have thus total permit held by this trust to increase by 50% in the last six months. A spectacular increase illustrated by the record weekly entry of 15,907 BTC recorded during the second week of November.
In the current state, Grayscale would therefore hold 2.69% of Bitcoin’s market share. An unprecedented performance which should further encourage institutional investors to subscribe to the fund manager’s offer against an annual fee of 2%. Another sign of the structure’s good financial health, Grayscale Bitcoin Trust’s shares currently represent $ 15.62 in Bitcoin each. They are, however, exchanged for $ 18.86 thus allowing the company to earn a premium of nearly 19%.
Grayscale now owns 2.24% of the total market capitalization of ETH.
In the wake of the Bitcoin Trust, the other products of Grayscale’s fund have also seen an increase. The best breakthrough was thus achieved by the Ethereum Trust, whose entries totaled approximately $ 1.175 billion of Ether. This total allows the fund to hold 2.24% of the total ETH capitalization. The eight remaining cryptocurrency trusts at Grayscale are no exception to this improvement. They combine nearly $ 400 million in assets under management, thus bringing the total held by the entire Grayscale fund to almost $ 10 billion.
All these statistics put together make Grayscale a leading figure in the investment and delegated management of cryptocurrencies in the market. They should not escape investors eager to take advantage of the current rise in bitcoin..