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Grayscale’s Bitcoin [BTC] Investment Trust holds 1.16% of total Bitcoins in circulation

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Grayscale's Bitcoin [BTC] Investment Trust holds 1.16% of total Bitcoins in circulation
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Bitcoin Investment Trust sponsored by Grayscale Investments, LLC aka Grayscale, according to the recent research by Diar shows that the trust has been accumulating Bitcoins in 2018 despite the brutal bearish market.

Grayscale Bitcoin Investment Trust [GBTC] kicked off the month of December under $1 billion for the first time since its inception in 2013. According to their research published on December 3, 2018, the total Bitcoin holdings for Grayscale as on December was 203,000 Bitcoins and when compared to the 17.4 million BTCs in circulation it controls over 1.16% of the total Bitcoins. Grayscale’s total holdings in Bitcoins alone are worth in excess of $783.81 million.

Source: diar, Volume.2 Issue.47

The BIT in one of its documents said that the trust was created for investors who were interested in investing in Bitcoin through a traditional investment vehicle. The document stated:

“The Trust was created for investors looking for Bitcoin exposure. Bitcoin Investment Trust’s shares are among the first securities solely invested in, and deriving value from, Bitcoin. Grayscale has assets under management of $0.9 billion.”

According to the website, Grayscale was founded in 2013, and GBTC quotation began on May 4, 2015. The Bitcoin holdings per shares for GBTC is currently trading at $3.86 after reaching an all-time high of $18.94 per share in the peak time for Bitcoin. The shares for GBTC reflect the closing price of BTC which is calculated daily at 4 pm ET.

Mati Greenspan, a senior analyst at eToro acknowledged the holdings in a tweet. It stated:



 

Greenspan also tweeted out saying that eToro has also been busy accumulating Bitcoins despite the bear market.

The diar research also shed light on other investments of Grayscale stating:

“Grayscale’s other cryptocurrency products have yet to find solid interest. The current Assets under Management for all 8 products sits at a tiny 56.4Mn, a notch over 6% of the sponsor’s total. This has in fact now decreased from 8% when Grayscale launched its Zen Fund.”





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

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John McAfee says he will reveal Nakamoto’s identity, Coinbase expands to 11 countries, and more

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John McAfee says he will reveal Nakamoto's identity, Coinbase expands to 11 countries, and more
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Daily Crypto News – April 18

1. John McAfee on Satoshi Nakamoto: The Founder of McAfee Associates stated that he would narrow down on the identity of Satoshi Nakamoto until he reveals Satoshi himself, otherwise he would reveal his identity to the crypto community. He also spoke about how he knows about Satoshi, to read about it, click here!

2. Coinbase expands its services to more countries: The leading exchange platform announced that it expanding its services to 11 more countries, which includes India, South Korea, and New Zealand. People in these countries can avail services provided on Coinbase.com, Coinbase Pro and its app on iOS and Android.

To know more about the countries Coinbase has expanded to, click here!

3. Craig Wright says the crypto-community want to silence him: Craig Wright, the self-proclaimed Satoshi Nakamoto, stated that the majority of the community was against him as they “desire to silence” him because they see someone who would bring an end to scams and pumps and dumps.

He also spoke about the next steps he would be taking in terms of the legal action concerning his defamation case. To read about it, click here!



4. Binance “marks the birth of a new genesis block”: The largest cryptocurrency exchange in terms of trade volume announced the launch of its Decentralized Exchange, and also stated that the mainnet swap would take place on 23 April 2019.

To read more about Binance DEX, click here!





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