Cryptocurrency hedge fund, Grayscale Investments, now holds more than 500,000 Bitcoins ($8.35 billion) in its Bitcoin Trust. Grayscale now has $8.35 billion worth of Bitcoin, according to its most recent post .
The report via its Twitter feed said, “Grayscale Bitcoin Trust now holds more than 500,000 $BTC. Yes, you read that right. Learn more about the world’s largest #Bitcoin investment product.”
Grayscale Bitcoin Trust now holds more than 500,000 $BTC. Yes, you read that right. Learn more about the world’s largest #Bitcoin investment product. #GoGrayscale https://t.co/2sEpUdw8iN pic.twitter.com/9h8nGZ8i4t
— Grayscale (@Grayscale) November 16, 2020
Investors are increasing their cash flow investments to notable crypto hedge funds, who are prepared to pay a premium to buy and hold cryptos through the security of a regulated fund like Grayscale.
What you should know
Grayscale Bitcoin Trust is a traditional investment vehicle with shares titled in the investors’ name, providing a familiar structure for financial and tax advisors and easy transferability to beneficiaries under estate laws.
Nairametrics a few days ago disclosed how the world’s leading crypto hedge fund, Grayscale, is on the grip of reaching a major milestone, as its crypto holdings are now worth $9.8 billion.
New numbers on Grayscale’s crypto products shows the company now has $9.8 billion in Assets Under Management (AUM), rapidly approaching the $10 billion mark.
Barry Silbert, founder/CEO of Grayscale, via his Twitter feed revealed the crypto holding.
- Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
- Total AUM: $9.8 billion.
- Crypto portfolio include $BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC.