Grayscale Now Holds 1.7% of Bitcoin Supply After Record $500M Quarter

By William Suberg

Almost 2% of the world’s Bitcoin (BTC) supply is now under the control of a single company: Grayscale and its Bitcoin Trust (GBTC).

In its latest quarterly report on April 16, Grayscale revealed that GBTC now contains 1.7% of the circulating supply of Bitcoin.

Bitcoin investors shun “risk-off” mood

In terms of assets under management as a proportion of the total cryptocurrency market cap, Grayscale controls 1.2% of the world’s crypto.

The Bitcoin ownership figure is up 0.1% since the end of 2019, underscoring the fact that the huge market uncertainty sparked by coronavirus has yet to reverse Grayscale’s fortunes.

Overall, Grayscale’s ten crypto funds attracted over $500 million in investments, making it its best quarter on record. 

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