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Grayscale Adds Half a Billion in Bitcoin and Other Crypto in One Day

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Thu, 06/03/2021 - 12:02
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Yuri Molchan
Major cryptocurrency hedge fund Grayscale's crypto balance has increased by $0.5 billion in merely twenty-four hours
Grayscale Adds Half a Billion in Bitcoin and Other Crypto in One Day
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A large buyer of Bitcoin and altcoins, Barry Silbert-affiliated Grayscale Investments, announced that as of June 2, it holds $34.7 billion worth of crypto under management.

That was $0.5 billion larger than the $34.2 AUM reported by the company a day earlier.

Grayscale acquires another $0.5 billion in crypto

On June 2, the Grayscale fund's team took to Twitter to announce that the size of crypto assets they have under management had seen a $0.5 billion increase to $34.7 billion from $34.2 billion.

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Image via Twitter

According to Grayscale's website, the company is currently holding $24,301,467,083 worth of Bitcoin with 692,370,100 outstanding shares; 0.00094219 BTC per one share.

Still, as per its website, Grayscale Bitcoin Trust does not accept private placements at the moment.

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Grayscale crypto trusts see massive outflows

According to analytics platform Bybt, investor outflows have been happening for a while already, not only from the Bitcoin Trust but also from trusts based on other cryptos as well.

Over the past 30 days, inflows have been seen only on Litecoin Trust, as well as trusts based on MANA, LPT, LINK, BAT and FIL.

The LINK Trust has also seen inflows of 753 in the past seven days but not Grayscale's other crypto trusts.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.