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Grayscale Tells SEC Its Bitcoin Trust Rose $1.6B Over Six Months

www.coindesk.com 13 August 2020 15:30, UTC
Reading time: ~2 m

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.

See also: First Mover: The Logic Behind Three Arrows’ $200M Grayscale Bet

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