Grayscale Investments Trust adds another 17,000 BTC to its Bitcoin Trust. After a fresh injection of $186 million into its holdings, the total investment of GBTC has reached $4.8 billion.
Grayscale has increased its BTC holdings after adding more than 17,000 BTC to Bitcoin Trust. According to the latest report by Grayscale, total assets under management (AUM) touched the figure of $5.8 billion.
Assets under Management: $5.8 Billion
Out of $5.8 billion, Bitcoin Trust or GBTC comprises $4.8 billion or 82.75% of total investment holdings under the asset fund manager. After Bitcoin, Ethereum is the second asset which comprises $784 million or 13.5% of the total investment. The rest of the investment funds are divides into other digital assets, including, Bitcoin Cash, XRP, Ethereum Classic, Zcash, and Litecoin.
Grayscale rolls out shares for investors, which are currently trading at $11.23, and the price of BTC share is up 46% since the beginning of the year.
The Next Generation is interested in Bitcoin
Buying Bitcoin on the part of Grayscale shows an influx of institutional investors towards the world’s top digital asset. However, Bitcoin is still below 16% of peak value witnessed in 2020. Grayscale explains that we will see a great wealth transfer from older generations to the next generations over the next 25 years, and the next generations are interested in Bitcoin and digital currency. Grayscale stated:
“$68 trillion will be transferred from older generations to younger generations over the next 25 years. It’s time to pay attention to the behaviors of the next generation of investors.”
This week, Bitcoin has tried to reclaim $11k again, and bullish sentiments have witnessed many times. Crypto analyst Josh Rager says that Bitcoin is bullish for the third week in arrow.
“Weekly close looks good and don’t know why people continue to be overly bearish. Bitcoin got a short term pullback and -20% is nothing unusual. Bitcoin continues to uptrend and for the third week in a row has closed above the support zone of $9900 to $10,175, he added.
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