Submit Blog Home » Cryptocurrency News » Cryptocurrency News » Grayscale Tells SEC Its Bitcoin Trust Rose $1.6B Over Six Months Grayscale Tells SEC Its Bitcoin Trust Rose $1.6B Over Six Months August 12, 2020
Aug 12, 2020 at 10:50 UTC Updated Aug 12, 2020 at 10:54 UTC
Grayscale Managing Director Michael Sonnenshein (CoinDesk archives)
The total value of Grayscale’s flagship Bitcoin Trust (GBTC) increased over $1.6 billion in the first six months of 2020.The New York-based crypto investment firm said the dollar value of total assets in GBTC went from $1.87 billion at the end of 2019 to $3.5 billion by the end of Q2 2020 – an increase of 90%.The disclosure came in a quarterly report filed with the Securities and Exchange Commission (SEC) last Friday.GBTC was successfully registered with the regulator in January.Grayscale is part of Digital Currency Group, CoinDesk’s parent company.Per the filing, the bitcoin held in GBTC increased by 125,531 to nearly 387,000 – a $1.15 billion increase in value based on bitcoin’s spot price on June 30.The remaining increase came from the fact the bitcoin price moved from $7,200 on December 31 to nearly $9,200 by the end of Q2.
Grayscale previously said Q2 2020 was its best quarters on record, having raised a total of $906 million from investors and bringing the total raised amount in H1 to $1.4 billion across its product range.
Inflows into GBTC came to $751 million in Q2.GBTC’s assets under management were worth $4.7 billion, according to Grayscale’s website at press time.
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