Grayscale Investments surpasses US$ 10 Billion worth Bitcoins lying in its Bitcoin Trust. As of today, the Trust holds more than half a million Bitcoin.
Back in the year 2013, Grayscale Investments had established a trust under the name of Bitcoin Trust. The fund was established for facilitating those investors who were keen to invest in digital currency, especially Bitcoin. On the other hand Grayscale was created by Digital Currency Group – an epicentre for accelerating Bitcoin’s/blockchain’s growth and development.
On this Tuesday, i.e. November 17th, Grayscale Investments had announced that it had achieved a key milestone. It was told that the assets under management by the investment company have exceeded 500,000 Bitcoins. This meant that currently the investment company has been managing around US$ 10.5 Billion worth of cryptocurrency under Bitcoin Trust.
CEO of Grayscale Investments told that the company had itself set up this milestone which had been achieved now successfully.
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Global Investments offers and facilitates at ten different crypto products which are all kept in their respective Trusts. The purpose of these trusts is to allow investors to keep their digital currencies with the investment company. There is one trust called Digital Large Cap Fund which is an exception. In this trust the investment company collects funds in multiple cryptocurrencies such as Bitcoin, Ethereum, XRP, Bitcoin Cash, Litcoin etc.
Most recently the investment company had managed to acquire a 1 billion dollar investment in its 3rd quarter of 2020. Resultantly, the investment company was successful in breaking its earlier record of fetching high inflow within a quarter.
Further details of the announcement suggested that the major contributors of investments were two prominent funds. For instance there is a total of approximately US$ 8.85 billion worth of Bitcoins available in Bitcoin Trust. Similarly, around US$ 1.22 Billion worth of ETH is lying in the trust fund called Ethereum Trust. While there is only US$ 147 Million maximum lying in Digital Large Cap Fund. This resulted in an excess of 500,000 Bitcoins (equivalent to US$10 Billion) held under management by Grayscale Investments.
On the other hand, both, the Bitcoin and Ethereum trusts of Grayscale Investments, are duly registered with the US SEC.