Grayscale Bitcoin Trust’s AUM surpasses $1.95 bn
- The company has bought 21 percent of the total Bitcoins mined in April.
- Grayscale currently manages ten crypto funds.
An analysis revealed that Grayscale Bitcoin Trust (GBTC) has more than $1.95 bn assets under management (AUM). The crypto asset management firm is also on a Bitcoin accumulation spree as it added 11,236 BTC to its Bitcoin Trust in April alone. According to an analysis in a Twitter post by Rhythm, the company has bought 21 percent of the total Bitcoins mined in April. At this rate, once the 2020 halving happens, the fund managers of the firm will end up owning 42 percent of the monthly Bitcoin supply.
A survey by crypto research firm Diar revealed that institution-controlled Bitcoin addresses, holding between 1,000 to 10,000 BTC, are currently holding $36 billion worth Bitcoins which is around 26 percent of its entire circulation volume.
Grayscale currently manages ten crypto funds, out of which nine are single asset specific, while one consists of a distinct set of digital assets. The offerings by Grayscale is limited to institutional investors, yet it offers its two largest trust funds to retail buyers as well. The firm has recently earned approval from the Financial Industry Regulatory Authority (FINRA) to list shares of its Grayscale Ethereum Trust in the open over-the-counter market.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
