Sunday, March 26, 2023
HomeNewsGrayscale is Managing $1.95 Billion Worth BTC

Grayscale is Managing $1.95 Billion Worth BTC

Grayscale Bitcoin Trust’s (GBTC) asset under management surpassed $1.95 billion as of May 2, an analysis revealed recently.

Institutions hoarding Bitcoin

This falls in line with a study by crypto research firm Diar, which revealed that institution-controlled Bitcoin addresses, holding between 1,000 to 10,000 BTC, are storing $36 billion worth Bitcoins – around 26 percent of its entire circulation volume.

The New York-based company manages ten crypto funds, out of which nine are single asset specific, while one is comprised of a diverse set of digital assets. After the GBTC, the Grayscale Ethereum Classic Trust is the largest with AUM of $40.8 million followed by Grayscale Digital Large Cap Fund.

Though Grayscale’s primary offerings are limited to institutional investors, it offers its two largest trust funds to retail buyers as well, and recently received approval from the Financial Industry Regulatory Authority to list shares of its Grayscale Ethereum Trust in the open over-the-counter market.

A study of the crypto market found that there is a significant uptick in the institutional crypto trading as institutional BTC products have gone up 15 percent in January 2019, 17 percent in February, 18 percent in March, and 19 percent in April.


Most Popular