Grayscale Accumulates 34% of New BTC as Weekly Investments Tag $30 Million

Grayscale Investments, a crypto investment fund manager and subsidiary of Barry Silbert’s Digital Currency Group, is estimated to have purchased up to one-third of all newly minted Bitcoin during the past three months amid the run-up to the block reward halving.

The announcement comes as average weekly investments into Grayscale’s Bitcoin Investment Trust, or BIT, reached $29.9 million over the first quarter of 2020.

In response to a tweet publicizing the figures, Grayscale founder Barry Silbert stated: “just wait until you see Q2.”

The average weekly investment into the trust has increased by over 800% when compared to Q1 2019’s $3.2 million.

Grayscale Investments absorbs 34% of new BTC

On May 19, Redditor “parakite” posted estimates indicating that Grayscale has spent the past three months accumulating up to one-third of all freshly mined Bitcoin (BTC).

The purchases added 60,762 BTC to its Bitcoin Relief Fund — equating to a rate of 607 Bitcoins over 100 days.

As of May 17, the fund was believed to be holding 343,954 BTC in total — a 21% increase in three months.

BIT assets under management up 80% in one year had reached $3.8

On May 19, Grayscale announced that the value of its assets under management had reached $3.8 billion, up from $2.1 billion as of May 2019.

The data also revealed that the firm’s Ethereum Trust has emerged as Grayscale’s second-largest, representing nearly $290 million.

Write a Comment

Your email address will not be published. Required fields are marked *

  • bitcoinBitcoin (BTC) $ 62,729.00 1%
  • ethereumEthereum (ETH) $ 2,340.05 3.42%
  • binance-coinBinance Coin (BNB) $ 546.91 3.63%
  • xrpXRP (XRP) $ 1.69 2.9%
  • tetherTether (USDT) $ 1.00 0.42%
  • cardanoCardano (ADA) $ 1.42 2.06%
  • polkadotPolkadot (DOT) $ 41.28 0.42%
  • uniswapUniswap (UNI) $ 34.01 3.53%
  • litecoinLitecoin (LTC) $ 263.61 1.57%
  • dogecoinDogecoin (DOGE) $ 0.125254 54.9%
  • chainlinkChainlink (LINK) $ 36.10 5.01%
  • bitcoin-cashBitcoin Cash (BCH) $ 783.51 7.86%
  • stellarStellar (XLM) $ 0.612677 4.32%
  • theta-tokenTheta Network (THETA) $ 11.63 4.52%
  • usd-coinUSD Coin (USDC) $ 0.997793 0.54%
  • filecoinFilecoin (FIL) $ 165.59 1.05%
  • vechainVeChain (VET) $ 0.168118 16.87%
  • tronTRON (TRX) $ 0.136653 3.96%
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 62,887.00 0.39%
  • eosEOS (EOS) $ 7.33 0.33%
  • solanaSolana (SOL) $ 25.45 8.44%
  • klay-tokenKlaytn (KLAY) $ 2.82 9.77%
  • crypto-com-chainCrypto.com Coin (CRO) $ 0.244280 5.33%
  • terra-lunaTerra (LUNA) $ 15.44 4.62%
  • compound-ethercETH (CETH) $ 46.87 3.41%
  • cosmosCosmos (ATOM) $ 23.74 3.63%
  • moneroMonero (XMR) $ 313.37 2.82%
  • okbOKB (OKB) $ 20.75 4.7%
  • iotaIOTA (MIOTA) $ 2.01 2.25%
  • bitcoin-svBitcoin SV (BSV) $ 293.10 4.85%
  • binance-usdBinance USD (BUSD) $ 0.996374 0.45%
  • bittorrent-2BitTorrent (BTT) $ 0.007744 7.6%
  • aaveAave (AAVE) $ 393.54 0.03%
  • ftx-tokenFTX Token (FTT) $ 55.21 4.56%
  • tezosTezos (XTZ) $ 6.29 3.25%
  • avalanche-2Avalanche (AVAX) $ 37.36 12.4%
  • neoNEO (NEO) $ 65.21 2.61%
  • kusamaKusama (KSM) $ 453.72 6.31%
  • compound-usd-coincUSDC (CUSDC) $ 0.021930 0.06%
  • elrond-erd-2Elrond (EGLD) $ 228.94 5.73%
  • algorandAlgorand (ALGO) $ 1.42 4.55%
  • huobi-tokenHuobi Token (HT) $ 20.25 3.17%
  • nemNEM (XEM) $ 0.403412 8.87%
  • pancakeswap-tokenPancakeSwap (CAKE) $ 23.04 5.01%
  • thorchainTHORChain (RUNE) $ 14.75 18.14%
  • cdaicDAI (CDAI) $ 0.021392 0.02%
  • daiDai (DAI) $ 1.00 0.17%
  • holotokenHolo (HOT) $ 0.017397 8.57%
  • hedera-hashgraphHedera Hashgraph (HBAR) $ 0.383437 6.06%
  • dashDash (DASH) $ 290.85 0.45%