Grayscale investments purchased over 9500 Bitcoins for its Bitcoin Trust last week, accumulating even further as it now has bought over 28000 BTC since the halving - almost 10000 more than has been mined in the same period.
Kevin Rooke, who has been examining Grayscale’s Trusts, posted an update on the asset management’s firm’s holdings. Grayscale has been on a purchasing spree, having both much Bitcoin as well as investing heavily in Ethereum (ETH). The Grayscale Bitcoin Trust has over $3.5B in BTC under management, with 377,529,400 outstanding shares.
The asset management firm has been selling many assets at a high premium, with Ethereum investors purchasing the asset at a price 700% over what they would get in the spot market. In return, Grayscale removes the worry of custody and security for these investors.
The performance of the institutional market has been strong, with Grayscale itself reporting an $500+ million inflow in Q1 2020. Both quarterly and yearly influx has shown an exponential growth.
Owned by the Digital Currency Group (DCG), itss co-founder and CEO Barry Silbert said that Q2 2020’s performance would be even better in an earlier response to Rooke.
