Grayscale Bitcoin Trust (BTC) is set to reach 500,000 BTC by the end of 2020.
Grayscale saw a record inflow of $ 215 million (15907 BTC) last week, more than any previous Trust investment. At the time of writing, this company owns $ 6.7 billion (481,711 BTC).
If the company continues to climb to 32,000 BTC last month, Grayscale could have 500,000 BTC (2.7% of total supply) for three weeks. By the end of next year, if the rate remains constant, Grayscale will be able to control 926600 BTC, which is 5% of the current total Bitcoin supply.
Greyscale investing in the Bitcoin Trust in 2020 Source: Grain Salt
The trust, established in September 2013, has grown significantly this year, with Assets Under Management (AUM) growing from $ 1.9 billion to $ 4.7 billion in the first nine months of 2020. It has grown by another $ 2 billion.
Nearly 70% of Grayscale’s total weekly flows were invested in the Bitcoin Trust over the past three quarters. The weekly influx of Bitcoin Trusts grew from $ 39.5 million in 12 months to more than $ 55 million in the third quarter, 84% of which came from institutional investors.
Grayscale published its second study on Bitcoin Investor last week, as the company found that the number of US investors interested in investing in Bitcoin has grown from 36% in 2019 to 55% in 2020.
Grayscale contains far more bitcoins than any other listed company (although the fund cannot be directly compared to a company that has BTC in reserve). On October 13, the remaining 12 companies had about 150,000 BTC together, including big money from Microstrategy (38,250 BTC), Mike Novogratz’s Galaxy Digital (16,551 BTC), and Jack Dorsey’s Square (4,709 BTC). ).