Grayscale's Bitcoin Trust is on track to reach 500,000 BTC by the end of 2020.
Last week, Grayscale saw a record inflow of $215 million that surpassed all previous investments into the Trust.
Should the firm continue last month's growth-rate of 32,000 BTC, Grayscale in on track to hold 500,000 BTC within three weeks.
By the end of next year, if the rate is consistent, Grayscale could control 926,600 BTC - equal to 5% of Bitcoin's total current supply.
Since Grayscale's Q3 report, the AUM of its Bitcoin Trust has grown by an additional $2 billion.
Almost 70% of Grayscale's total weekly inflows were invested into its Bitcoin Trust over the past three quarters.
Bitcoin Trust weekly inflows grew from a 12-month average of $39.5 million to more than $55 million in Q3, 84% of which was attributed to institutional investors.
Last week, Grayscale published its second Bitcoin Investor Study in which the firm found U.S. investors that were interested in investing in BTC had grown from 36% in 2019 to 55% in 2020.
Grayscale holds vastly more Bitcoin than any other listed company.
As of Oct 13th, the remaining 12 companies combined hold approximately 150,000 BTC with notable holdings from Microstrategy, Mike Novogratz's Galaxy Digital, and Jack Dorsey's Square.
Grayscale Trust sees largest-ever weekly inflow, nears 500K BTC in total
gepubliceerd op Nov 4, 2020
by Cointele | gepubliceerd op Coinage
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