Compulsive bitcoin buying resumes
Last week, after a temporary break during the Christmas holidays, well deserved after a crazy year in 2020, the crypto investment fund Grayscale reopened its doors. The new year is off to a flying start when it comes to buying Bitcoin (BTC).
More than 5,000 BTCs in 24 hours chrono
Now that Grayscale Investment has completely gotten rid of Ripple’s annoying XRP token, business has picked up, and not just a little!
According to Bybt Data Aggregator, in the short 3 days that cryptographic funds were reopened to new investors (13-15/01), the Grayscale Bitcoin Code was able to count the net arrival of nearly 10,000 additional Bitcoins.
On January 15 alone, 5,132 BTCs were added to the Grayscale’s pool of assets under management, equivalent to just over $185 million at the time of writing.
Net balance of Bitcoins (inflows minus outflows) in the GBTC Grayscale FundNet balance of Bitcoins (inflows minus outflows) in the GBTC Grayscale Fund
3.3 billion in cryptos for the last quarter of 2020
As we said in the title, the year 2020 for Grayscale was simply gargantuan. In its latest quarterly report, we discover that the last 3 months of the past year have allowed the investment fund to reap the trifle of 3.26 billion dollars of additional crypto-actives, an average weekly rhythm of $251 million dollars of institutional fresh money!
4Q REPORT: Last quarter, we saw a total investment into Grayscale products of $3.26 billion – an average weekly investment of $251 million. Read more about our record-breaking quarter here. #GoGrayscale https://t.co/T4sMVQhcDe pic.twitter.com/zvsPtFkNrN
– Grayscale (@Grayscale) January 14, 2021
To give you a better idea of the tremendous acceleration of institutional investments in cryptos projects (Bitcoin and Ethereum in the lead) during this last quarter, it is important to know that the first 9 months of the year 2020 had “only” 2.7 billion dollars of assets under management. The previous quarterly record was $1.05 billion in the third quarter of 2020.
According to Grayscale’s latest fund update (below), the company now holds $27.1 billion in crypto-assets on behalf of its institutional clients.
01/15/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
Total AUM: $27.1 billion$BTC $BCH $BCH $ETH $ETH $ETC $ZEN $LTC $XLM $ZEC pic.twitter.com/i2fg9yaHb0
– Grayscale (@Grayscale) January 15, 2021
The GBTC alone represents $22.9 billion in bitcoins, while the second largest fund – dedicated to Ethereum – has nearly $3.5 billion in ethers.
Grayscale and the purchases of cryptos from its institutional investors are no longer stopped. Indeed, the latter are giving themselves to heart’s content, not having to support themselves the storage (always a little delicate and technical) of their crypto-actives. Grayscale is probably not done with the record of interest for its investment funds.