$87,088.00
2.17%$1,907.29
-0.67%$2.18
0.30%$609.20
-1.45%$129.89
0.50%$0.999991
0.01%$0.176075
1.02%$0.6959
0.80%$0.238807
1.13%$1,906.85
-0.47%$86,698.00
2.03%$4.07
0.01%$14.10
-1.65%$9.38
0.23%$0.27377
-1.00%$19.73
-0.57%$2,263.93
-1.29%$2.50
0.08%$1.00
0.03%$0.00001273
-2.82%$0.172327
-1.38%$4.20
-1.49%$85.18
-0.58%$312.36
-1.28%$6.34
-0.38%$4.64
-0.28%$1,904.15
-0.77%$0.999379
-0.03%$0.999735
-0.28%$14.10
2.41%$0.683108
-4.24%$2,017.97
-0.91%$220.30
0.73%$28.12
-0.44%$6.25
-0.73%$5.42
-0.27%$0.00000774
-0.68%$2.71
0.67%$1.046
0.01%$0.106097
3.39%$48.14
-0.72%$86,856.00
2.10%$22.81
0.06%$34.40
2.20%$0.866517
4.88%$0.805401
0.47%$1.00
0.16%$5.40
-2.98%$16.79
-2.58%$162.78
-4.48%$1.17
0.46%$10.63
2.19%$0.02330056
-1.58%$4.51
0.13%$230.68
-1.59%$0.370785
-0.17%$1.00
0.00%$3.68
-1.76%$2.86
-1.74%$86,987.00
2.01%$3.16
-1.01%$0.068187
-0.69%$4.05
0.59%$0.199262
-3.14%$0.194107
0.60%$0.512459
-1.55%$0.335358
-1.59%$10.83
-1.18%$86,722.00
2.35%$0.814516
16.47%$0.467017
-3.58%$0.74952
-2.93%$1,413.96
1.14%$0.418688
-2.78%$4.59
-4.45%$1,908.86
-0.70%$1,985.94
-0.43%$1.088
-0.91%$0.067862
-2.29%$135.18
0.47%$70.72
-1.77%$0.409379
-1.56%$0.797598
-4.60%$1.001
0.04%$0.00001251
3.45%$0.528261
-2.46%$0.623493
-1.41%$2,150.59
-0.78%$8.98
-1.64%$15.24
4.75%$0.997795
0.01%$0.176388
-1.32%$0.089523
-3.77%$0.999765
-0.26%$0.841931
-2.47%$0.01364414
-2.70%$0.999612
-0.19%$0.889945
-2.59%$7.35
-2.37%$3,149.90
-0.22%$85,073.00
1.20%$607.60
-1.66%$2,022.10
-0.52%$0.594026
3.14%$0.999727
0.02%$2.28
-1.22%$0.537177
-0.97%$86,601.00
2.00%$0.0158783
-1.90%$3,137.97
-0.36%$0.665905
-1.70%$0.276402
-2.27%$0.00000067
0.05%$0.17666
-1.67%$32.42
-1.55%$1.002
-0.25%$40.19
-3.18%$0.108525
2.88%$165.75
0.54%$1.001
0.08%$0.388766
-2.46%$1,987.10
-0.52%$0.00005946
-2.38%$1.98
7.32%$1.91
-3.98%$7.35
-3.21%$3.09
-1.52%$0.552054
3.56%$141.99
0.43%$16.37
-1.19%$0.146015
-1.58%$0.999933
0.09%$3.27
10.21%$1.91
9.54%$0.01094677
-4.26%$0.073519
-2.24%$0.541433
-0.63%$0.498729
1.42%$0.642216
-4.58%$0.99883
0.09%$85,572.00
1.37%$0.00516521
4.27%$2.93
-3.53%$1.00
0.08%$0.999822
-0.16%$16.62
-0.41%$0.251741
-2.43%$2,026.29
-0.56%$0.176413
1.28%$27.28
-2.55%$0.722167
0.22%$86,830.00
2.16%$0.00000044
0.21%$86,462.00
1.02%$0.998193
-0.19%$0.396833
-0.12%$0.085045
2.90%$1,903.75
-0.93%$0.146308
-5.84%$1.20
-1.54%$0.419521
-3.67%$1,904.17
-0.76%$1.094
0.89%$1,908.86
-0.47%$1.007
-0.19%$0.04330762
-2.80%$110.53
0.01%$0.00002025
0.01%$0.615125
0.72%$5.98
-9.21%$43.91
-7.94%$1,993.67
-0.38%$86,401.00
1.95%$1.10
0.41%$0.468909
-4.83%$0.181871
-1.67%$0.00690291
-6.71%$0.00642001
-4.34%$0.841642
-3.69%$0.370289
-2.89%$0.999305
-0.00%$0.19962
-3.22%$1,897.13
-1.06%$0.598831
-1.33%$0.995955
-0.78%$0.426843
-7.61%$4.83
-14.44%$1,882.69
-2.09%$0.00006041
-2.08%$0.0052066
-4.57%$1.001
-0.28%$0.03264618
-3.52%$0.00000158
-3.31%$1.28
5.43%$0.03196734
2.86%$0.00374937
-4.17%$121.49
-1.18%$2.81
-0.95%$1,887.63
-0.65%$0.00915093
-1.54%$1.43
-7.72%$0.242493
-2.54%$1,904.71
-0.73%$1.22
-6.75%$0.00330623
14.91%$3.61
-2.38%$0.64415
-0.94%$2.95
1.94%$86,651.00
2.12%$86,653.00
1.50%$0.99964
0.04%$0.104844
24.48%$0.235704
-6.97%$22.39
-2.67%$0.196718
-0.41%$2,001.35
-1.07%$2,084.22
-0.70%$3,126.35
-0.08%$0.525426
0.43%$0.258544
-2.32%$15.81
-3.82%$0.0004238
-5.57%$2,066.96
-0.75%$0.00334522
-0.75%$0.03170212
3.58%$1.004
0.42%$0.117773
-0.03%$0.106895
-2.08%$1,748.28
2.36%$0.537938
-2.17%$0.03479898
-1.34%$0.699279
-9.38%$1,889.21
-0.76%$0.065018
-4.71%$21.59
3.24%$0.00226268
-2.29%$0.078904
-5.03%$0.947792
-12.24%$0.0115925
-1.31%$0.22854
7.13%$0.909294
-4.63%$0.02872925
-4.50%$86,663.00
1.73%$0.521144
-0.84%$0.00242575
-2.49%$0.642707
-4.31%$2.16
2.81%$0.00467655
-3.17%Reading
Over the past week, digital asset management firm Grayscale Investments has increased its reserves by 17,100 Bitcoin (BTC), according to its website and crypto analytics platform bybt.com. That’s an increase of $186.5 million.
As a result, the GBTC Bitcoin trust, which was created in 2013, now amounts to nearly 450,000 BTC—or $4.7 billion. This corresponds to 2.5% of the amount of Bitcoin in circulation.
This doesn’t necessarily mean Grayscale is buying this Bitcoin directly. It can either purchase Bitcoin on behalf of clients, or it can issue shares in exchange for Bitcoin. In the latter case, it wouldn’t be sucking up any of the available supply and wouldn’t be affecting its price.
The increase in Grayscale’s reserves comes amid a pullback in the price of Bitcoin. Earlier this month, the first cryptocurrency made another unsuccessful attempt to gain a foothold above $12,000 and has been trading mostly above $10,000 since then.
While the Bitcoin fund constitutes the lion’s share of Grayscale’s funds, the company now has around $5.8 billion worth of assets under its management in total, according to its latest report.
09/25/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
Total AUM: $5.8 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC pic.twitter.com/FtGxWWnKhE
— Grayscale (@Grayscale) September 25, 2020
As Decrypt reported, Grayscale received over $217 million worth of digital asset trust investments in a single week after launching a TV ad campaign—which didn’t even mention Bitcoin.
In early September, the firm also published a report for investors that suggested that today’s market is “reminiscent of early 2016, the period that preceded Bitcoin’s historic bull run.” If history does repeat itself, Grayscale is in the right position.
U.S. Senator Ted Cruz (R-TX) has introduced a new bill aiming to turn waste energy into electricity for Bitcoin mining. The Facilitate Lower Atmospheric Released Emissions (FLARE) Act, introduced on March 31, is geared towards making waste energy productive by capturing gas that would otherwise be flared or vented. The plan is to incentivise this capture by offering full expensing for property used to capture that gas. My legislation, the FLARE Act, incentivizes entrepreneurs and crypto miners...
Shoppers in Singapore can now use crypto to pay for gadgets on the Sony Store Online. In a statement on Tuesday, Sony Electronics Singapore said it has enabled USDC payments through crypto exchange Crypto.com’s payment service, marking the company’s first local move into direct crypto transactions. The feature allows customers to check out using USDC, a stablecoin pegged to the U.S. dollar. It’s currently exclusive to the Sony Store Online and available only via Crypto.com’s payment system. Wi...
The Trump family is digging deeper into Bitcoin—this time, with a mining venture backed by Eric Trump. The President’s son is teaming up with Miami-based Hut 8 to launch American Bitcoin Corp. The mining operation aims to go public and become one of the largest in the country, according to a Bloomberg report on Tuesday. The announcement marks another step in the family’s broader crypto strategy after the launch of World Liberty Financial in October and the USD1 stablecoin in March. “It’s excitin...
