12,337 Bitcoin Has Been Mined Since the Halving, Grayscale Bought Over 18,000
Summary
- The Grayscale Bitcoin Trust bought 18,910 Bitcoins since May 11th.
- However, only 12,337 Bitcoin have been mined since the halving.
- Institutional interest in the crypto space seems to be surging.
Grayscale, one of the largest digital asset funds in the crypto space, has seen a surge in new investments in 2020. According to data compiled by Kevin Rooke, Grayscale bought approximately 6,300 Bitcoin more than what was mined since the halving.
Grayscale offers investors a variety of digital assets. Accounting for almost 90% of the fund’s total assets-under-management, the Bitcoin Trust is the most popular digital asset trust among investors.
Grayscale’s Bitcoin Trust allows investors to invest in Bitcoin without having to buy or store the digital asset securely. In exchange, Grayscale charges investors a slight premium. Each share currently holds $8.69 in Bitcoin with a market price per share of $10.54.
Grayscale’s Bitcoin Trust Gains Popularity
The Bitcoin Trust has begun to take off as pointed out earlier by Kevin Rooke. The Grayscale Bitcoin trust saw a weekly average investment of $29.9 million in Q1 2020, an 800% increase in average weekly investments.
Furthermore, Barry Silbert (Founder and CEO at Grayscale) replied to the tweet, hinting at an even better Q2. Based on the rate Grayscale has bought Bitcoin since the halving, Q2 looks very positive in terms of new institutional Bitcoin investment. The rapid surge in new investments can be a sign of the increasing institutional sentiment surrounding Bitcoin and digital assets.
Disclaimer: Content displayed on thecryptoassociate.com is not investment advice. Investors should do their own research before investing in digital assets or anything displayed on this site. The Crypto Associate does not recommend trading any sort of investment in cryptocurrencies and digital assets. The Crypto Associate is not responsible for any losses incurred due to the buying or selling of cryptocurrencies displayed on this site. All content is for informational purposes only. The Crypto Associate does not endorse, affiliate or represent any third-party links including advertisements. The Crypto Associate participates in affiliate marketing. Read the full disclaimer
