Grayscale Bitcoin Trust (GBTC) has been acquiring more bitcoin than ever in the previous few months. According to recent data, the digital assets management firm GBTC has amassed more than 60,000 BTC in the previous hundred days. This is clearly referring to the fact that institutional interest in Bitcoin and other cryptocurrencies has been on a rise in recent months.

trade

GBTC acquires a total of 60,762 BTC in the last 100 days

The recent data claims that the Grayscale Bitcoin Trust firm which focuses on Bitcoin has acquired a total of 60,762 BTC within the duration of the previous hundred days. This means that GBTC has been including around 600 BTC on a daily basis to its overall custody of Bitcoin.

GBTC’s rate of Bitcoin (BTC) acquisition has been on a spike since the beginning of the month of February this year. Reportedly, the crypto assets management firm has had a total of 283,192 BTC in its Bitcoin custody on February 7. Since that time, the BTC acquisition rate of the firm got accelerated, and especially in the months of April and May, the acquisition rate skyrocketed. On April 23, the firm had 312,886 BTC while on May 1, it had 323,262 BTC in its custody.

trustcapital

GBTC holds 1.87% of the total BTC supply

After acquiring an amount of 60,762 BTC in the period of 100 days, the firm currently has 343,954 BTC in its custody. During this period, the firm also gathered around 33 to 34 % of newly minted Bitcoin as well. The total bitcoin supply that is currently in the possession of the Grayscale Bitcoin Trust has now reached to 1.87%. Moreover, the total amount of assets under management in the GBTC custody is $3.3 billion.

📰  Crypto Derivatives Total Trading Volume in Q1 2020 Increases by 314%

The crypto industry is always seeking the institutional interest and the recent achievements made by the management firm Grayscale notes that the institutional interest in the crypto industry has increased in recent times and is rising more and more with each passing day.

LEAVE A REPLY

Please enter your comment!
Please enter your name here