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Grayscale Has Over 500,000 BTC, worth $8.3 Billion

One of the top crypto funds manager in the market, Grayscale has expanded its investments in Bitcoin and now the total amount of the crypto in its Bitcoin Trust has exceeded 500,000. Posted on November 16th, it was highlighted in a tweet that Grayscale’s Bitcoin holdings are not over the $8.3 billion mark. This is a whopping 2.69% of the market cap and the outstanding supply of the whole Bitcoin network. However, Chainalysis has already made a disclosure that around 3.7 million Bitcoin has been lost in the market in a variety of ways. If this actually turns out to be true, then this would mean that Grayscale has expanded its ownership to a staggering 3.7% of the current Bitcoin supply circulating in the market.

Grayscale Investments’ client base comprises of those institutional investors who wouldn’t blink twice when it comes to paying a premium price just for purchasing and holding crypto via a regulated fund, and the security it offers. Due to a surge in its popularity, the shares of the Grayscale Bitcoin Trust are now valued at $15.62 per Bitcoin. Even so, Grayscale shares are already available on a premium, which is as high as 19%. This means that every share is changing hands at an impressive price of $18.86. 

Apart from this, Grayscale also charges an annual fee of about 2%, as it is playing the role of fund manager at the end of the day. The Bitcoin Trust by Grayscale initiated a rather aggressive accumulation campaign in this year. In the last six months alone, there has been a 50% increase in the amount of Bitcoin that’s being held by the fund. The Bitcoin Trust fund of the company is seven years old, but the steep rise that it has recorded in this year alone indicates that interest in the pioneer cryptocurrency by institutional investors appears to be snowballing.

As a matter of fact, the fund went as far as reporting its biggest-ever weekly inflow in the previous week. The Bitcoin Trust had managed to see an increase in Bitcoin of about $215 million, which is the equivalent of 15,907 BTC. It is not just the Bitcoin Trust that appears to be making headway this year, as the Ethereum Trust also appears to be on the same path and the fund has ramped up ETH purchases as well. According to the recent figures, Grayscale’s Ethereum Trust owns 2.24% of the total market cap of ETH, which is valued at $1.175 billion. 

When it comes to the relatively smaller fish in the fund’s listings, the other eight crypto funds at Grayscale are collectively valued at $400 million. Putting all these numbers together, it is apparent that the total assets being managed by Grayscale Investments currently is $9.9 billion. These signs are an indication that interest in the crypto market is an all-time high from institutional investors, and not just retail ones. As mainstream integration goes up, crypto’s perceived legitimacy in the public eye is also increasing. 

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