Bitcoin has been performing well lately which has caused some huge profits to different firms out there. Grayscale Bitcoin Trust is now holding more than 500,000 Bitcoin which is worth more than $8.3 billion. This reveals that the trust is having around 3.37% of the total outstanding supply and market capitalization of Bitcoin.
Grayscale has also mentioned its exclusive investment project for Bitcoin. According to the firm, the major focus here is on the institutional investors who are ready to pay a premium for buying and holding cryptocurrency.
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
Grayscale Bitcoin Trust Stocked Huge Amount of Bitcoin in 2020
Even though there has been a huge crypto adoption across the world during the COVID-19 pandemic, it is seen that Grayscale has buckled up its game quite impressively. The Grayscale Bitcoin Trust has stocked a huge amount of Bitcoin in 2020. A major increase has been seen in the last six months. The amount of Bitcoin with the fund has increased by around 50%, which should be seen as a major adoption.
This increase in a fund is surprising because Grayscale Bitcoin Trust is not a newly launched one. The fund was launched seven years back and a 50% increase within just six months is kind of surprising and impressive as well.
Ethereum Trust Also Increased Purchases
It is not only Grayscale Bitcoin Trust that has seen such a massive increase in funds as its Ethereum Trust has also done an impressive job this year. It is reported that the firm is now holding Ether worth $1.175 billion, which is around 2.24% of its entire market cap. Holding such a huge amount of the world’s two largest cryptocurrencies is indicating that Grayscale is currently standing in a very good position. The firm is also having the right other crypto funds, which are also in a quite good position with assets worth $400 million.