Asset manager Grayscale reached deep into his pocket and topped up the BTC cash register.
Grayscale, the largest asset manager for digital currencies, took advantage of the temporary slump in exchange rates to win the Bitcoin Trust(GBTC) to fill further
The asset manager added around 17,100 Bitcoin, worth over $ 186 million, to the GBTC in the past seven days. In total, the volume of the trust now amounts to 490,900 BTC, at the current exchange rate this translates to over 4.9 billion US dollars. The total volume of all assets managed in crypto trusts (assets under management, AUM) is thus 5.8 billion US dollars.
The Bitcoin Trust is by far the largest in the portfolio of the asset manager.
Far behind is the Ethereum Trust in second place with over 780 million US dollars
With the latest investment, Grayscale is becoming more and more of a giant whale in crypto waters. As a result, around 2.6 percent of the total circulating BTC supply is currently in the hands of the asset manager. As can be seen from the graphic below, Grayscale also timed the timing well and bought it on the market at comparatively favorable terms.