Grayscale Bitcoin Trust Now Holds 1.7% of Bitcoin Supply, Indicating Increasing Institutional Investment

written by

grayscale bitcoin

Support free journalists: > send a tip

  • The Grayscale Bitcoin Trust now holds roughly USD 2.2 billion of Bitcoin

According to the latest Grayscale quarterly report, the Grayscale Bitcoin Trust now controls 1.7% of the total Bitcoin supply, which is roughly USD 2.2 billion. This is up 0.1% since the end of 2019 and is a sign that institutional investment into Bitcoin is continuing to increase despite the Coronavirus induced economic crisis.

Essentially, Grayscale is one of the top options for institutional investors who want to speculate on the Bitcoin market, via providing a completely safe and risk free way of investing large amounts of money into Bitcoin. It launched its Bitcoin Trust in late 2013, and by late 2014, accounted for 1% of the total supply of Bitcoin. Since 2017 the funds invested into the Grayscale Bitcoin Trust have been steadily growing and in the past year, investment is growing faster than ever.

Not only has institutional investment into Bitcoin continued to increase, but Grayscale has actually just had its best quarter on record, with quarter over quarter investment inflows doubling to USD 503.7 million.

Zooming out, this data could indicate that institutional investors are increasing their Bitcoin holdings in preparation for a block halving rally since the Bitcoin block halving is now less than a month away.

BitcoinNews.com is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Image Courtesy: Pixabay

Help spread this article :)

BitcoinNews.com is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of BitcoinNews.com

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by BitcoinNews.com to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of BitcoinNews.com 

   Advertisement

Latest on Bitcoin News

   Advertisement