Grayscale’s Bitcoin (BTC) trust is on track to reach 500,000 BTC by the end of 2020.
Last week, Grayscale saw a record $ 215 million (15,907 BTC) cash flow, surpassing all previous investments in Trust. The company currently holds $ 6.7 billion (481,711 BTC) as of press time.
If the company continues the 32,000 BTC growth of the previous month, Grayscale will continue to hold 500,000 BTC (2.7% of the circulating supply) for three weeks. By the end of the following year, if the ratio is consistent, Grayscale could control 926,600 BTC – 5% of Bitcoin’s current total supply.
The Trust, established in September 2013, has seen explosive growth this year, with managed assets (AUM) rising from $ 1.9 billion to $ 4.7 billion. $ for the first nine months of 2020. Since the Grayscale 3rd quarter report, the Bitcoin Trust’s AUM has increased by $ 2 billion.
Nearly 70% of Grayscale’s total weekly funds have been invested in the Bitcoin Trust over the past three quarters. Weekly cash inflows into the Bitcoin Trust have grown from a 12-month average of $ 39.5 million to over $ 55 million in Q3, 84 percent of which is attributed to institutional investors.
Last week, Grayscale published its second Bitcoin Investor Research, in which the company found that US investors interested in investing in BTC increased from 36% in 2019 to 55% in 2020. .
Grayscale holds more Bitcoin than any other listed company (although a fund cannot be directly compared to a company that holds BTC as a reserve asset). As of October 13, the remaining 12 companies combined hold around 150,000 BTC with notable holdings from Microstrategy (38,250 BTC), Mike Novogratz’s Galaxy Digital (16,551 BTC), and Jack Dorsey’s Square (4,709 BTC. ).
Not only @Square, by 2020 there are more than 10 Public Companies to invest in $ BTC, with a total value of more than 6 billion USD, equivalent to nearly 600,000 BTC. $ BTC #BTC pic.twitter.com/7zxX94Clwx
– Coin98 Analytics (@ Coin98Analytics) October 13, 2020