Grayscale Bitcoin Trust Keeps Growing

by in DeFi News

Grayscale adds more BTC

On Tuesday, New York-based crypto asset management firm Grayscale added 12.319 Bitcoins.

Related: SkyBridge Capital invested $25 million in bitcoin

A day earlier, the company announced suspending fund acceptance temporarily. This refers to Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and several other coins.

Although, apparently, the company's customers are still interested in placing their money in Bitcoin. The case shows another time that the demand for BTC has been growing. Just two days ago, Microstrategy purchased $650 M worth of Bitcoin. Then SkyBridge Capital informed about setting up its own Bitcoin Fund.

2020 has been a BTC investment year for GrayScale. The company's holdings increased by over 66% within this year. Currently Grayscale owns $13.7 billion worth of assets under management.

Most analysts believe that institutional investments are going to cold storage. Accordingly, the BTC rate is assumed to go higher. On Tuesday, exchanges reported a net outflow of over 16,000 Bitcoins (BTC).