Grayscale
Investments Now Holds Over 500,000 BTC in its Bitcoin Trust
Cryptocurrency asset manager
Grayscale Investments now holds more than 500,000 BTC in its Bitcoin Trust
product, GBTC.
According to a post from
Grayscale, the firm holds $8.35 billion worth of bitcoin, equating to 2.69%
of the flagship cryptocurrency’s circulating supply. Chainalysis estimates
that around 3.7 million BTC have been lost, which
would put Grayscale’s holdings above 3%.
The Grayscale Bitcoin Trust has
been accumulating bitcoin rather aggressively so far this year, with the
amount of BTC it holds increasing by almost 50% in the last six months. Last
week the firm reported its largest-ever weekly inflow of 15,907 BTC.
Investors buy GBTC in order to
gain exposure to the cryptocurrency without having to manage a cryptocurrency
wallet and its private keys.
