Compulsive Bitcoin Buying Resumes – Last week, after a little temporary break over the Christmas holidays, well-deserved after a crazy 2020 year, crypto investment fund Grayscale reopened. And you might as well tell you right away that the new year begins on the hats of wheels when it comes to buying bitcoins (BTC).
More than 5,000 BTC in 24 hours flat
Now that Grayscale Investment has completely gotten rid of Ripple’s troublesome XRP token , business has been able to pick up, and not just a little!
According to the data aggregator Bybt , over the 3 short days of reopening crypto funds to new investors (from 01/13 to 15/15), the Grayscale Bitcoin Trust (GBTC) was able to count the net arrival of nearly 10 000 more bitcoins .
The day of January 15 alone brought 5,132 BTC into Grayscale’s assets under management, equivalent to just over $ 185 million at the time of this writing.
$ 3.3 billion in cryptos for the last quarter of 2020
As we said in the title, the year 2020 for the company Grayscale has been simply gargantuan. In its latest quarterly report , we discover in particular that the last 3 months of the past year have enabled the investment fund to garner a trifle of $ 3.26 billion in additional crypto-assets , i.e. an average weekly rate of $ 251 million in institutional fresh money!
To give you a better idea of the staggering acceleration of institutional investments in crypto projects (Bitcoin and Ethereum in the lead) during this last quarter, you should know that the first 9 months of 2020 had not garnered “ that ” $ 2.7 billion in assets under management. The previous quarterly record was $ 1.05 billion in the third quarter of 2020.
According to Grayscale’s latest fund update (below), the company now owns $ 27.1 billion in cryptoassets on behalf of its institutional clients.
The GBTC alone accounts for $ 22.9 billion in bitcoins , while the 2nd largest fund – dedicated to Ethereum – has nearly $ 3.5 billion in ethers .