- The Grayscale Bitcoin Trust added 9,503 Bitcoin to its Bitcoin trust in the past week.
- Miners only mined 6,863 Bitcoin during the past week.
- Grayscale’s Bitcoin Trust has seen a recent surge in popularity.
Grayscale, one of the largest digital asset funds in the cryptosphere has seen an influx of new money in 2020. According to data compiled by Kevin Rooke, Grayscale has added 9,503 Bitcoin during the past week, 2,640 more Bitcoin than what was mined by miners during the same time frame.
The trust has added over 28,000 Bitcoin since the halving last month, while miners only mined 19,200 Bitcoin. The average daily Bitcoin added to the Bitcoin trust since the halving is above 1,000 Bitcoin.
With Grayscale buying more Bitcoin, institutional sentiment surrounding Bitcoin seems to be changing. Despite no significant price breakouts, 2020 has been a stellar year for the Bitcoin Trust as an influx of new money enters the cryptosphere.
Grayscale Bitcoin Trust Interest Soars
Grayscale is buying more Bitcoin as interest in its Bitcoin Trust soars. The Bitcoin Trust allows investors to invest in the digital asset without having to worry about storing and managing the asset. The Bitcoin Trust accounts for approximately 90% of the funds total assets-under-management.
Grayscale’s Bitcoin Trust now accounts for 3.5 Billion of the fund’s total assets-under-management. The Bitcoin Trust AUM is up $1.7 billion from December 2019, proving the growing interest in 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