Grayscale is Managing $1.95 Billion Worth BTC

Grayscale Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Trust's (GBTC) asset under management surpassed $1.95 billion as of May 2, an analysis revealed recently.

5/29/19 UPDATE: Holdings per share and net assets under management for our investment products

Total AUM: $2.1 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC pic.twitter.com/qQFChAqQgc — Grayscale (@GrayscaleInvest) May 29, 2019

The crypto asset management firm is also on a Bitcoin accumulation spree as it added 11,236 BTC to its Bitcoin Trust in April alone.

An analysis by Twitter user Rhythm revealed that the company has bought 21 percent of the total Bitcoins mined in the month of April. If the fund managers continue their crypto acquisition at this rate, the firm will end up buying 42 percent of the monthly Bitcoin supply following the 2020 halving.

Grayscale Bitcoin Trust accumulated 11,236 bitcoin in April alone.

Currently 54,000 bitcoin are mined per month. Right now, they are buying up 21% of the new supply of bitcoin. In a year, the halvening will double that number to 42% of the supply. Institutions are FOMOing. — Rhythm (@Rhythmtrader) May 29, 2019

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 Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term 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.