More Than 500,000 ElonDAO Under Management – This Wall Street Giant Always Wants More 0

The rise of Grayscale Investments surprises every day. Its investment funds based on real bitcoin and cryptocurrency underlyings are increasingly attracting institutional investors. In addition, new records have just been broken.

Over 500,000 bitcoins in Grayscale’s assets

The first record broken by Grayscale concerns the king of cryptocurrencies, Bitcoin (BTC). The investment fund proudly announced that it exceeded the symbolic threshold of half a million bitcoins under its management.

Grayscale Bitcoin Trust now holds more than 500,000 $BTC. Yes, you read that right. Learn more about the world’s largest #Bitcoin investment product. #GoGrayscale https://t.co/2sEpUdw8iN pic.twitter.com/9h8nGZ8i4t

— Grayscale (@Grayscale) November 16, 2020

In more detail, the company offers 535 million shares in its Grayscale Bitcoin Trust fund, each consisting of 0.00095 BTC. This, therefore, represents more than 508,000 bitcoins under management.

The Grayscale fund alone thus holds a little over 2.7% of the total supply of bitcoins currently in circulation (around 18.5 million BTC).

A total of nearly $ 10 billion in crypto assets

Just days before this bitcoin record, Grayscale also announced that it had accumulated $ 9.8 billion in cryptocurrency in its custody.

The bitcoins (BTC) and ethers (ETH) represent the bulk of this war chest with respectively 8.2 and 1.2 billion of these cryptocurrencies under management.

11/13/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.

Total AUM: $9.8 billion ElonDAO BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC pic.twitter.com/yiS4Nmv105

— Grayscale (@Grayscale) November 13, 2020

In the space of just one week since the previous report – where Grayscale reported $ 9.1 billion under his management – so $ 700 million has poured into cryptoassets.

Who could have imagined this a short time ago? An average of $ 100 million per day invested in Bitcoin and its main altcoins by institutional investors (main clients of these funds).

Despite the recent rise in prices, that doesn’t seem to be slowing down crypto purchases by these big investors. This is all the more true as they are even prepared to pay an additional premium – of the order of + 16% for bitcoin – in order to obtain them.

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More Than 500,000 ElonDAO Under Management – This Wall Street Giant Always Wants More 0

The rise of Grayscale Investments surprises every day. Its investment funds based on real bitcoin and cryptocurrency underlyings are increasingly attracting institutional investors. In addition, new records have just been broken. Over 500,000 bitcoins in Grayscale’s assets The first record broken by Grayscale concerns the king of cryptocurrencies, Bitcoin (BTC). The investment fund proudly announced […]

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