Grayscale Bitcoin Trust pulls in a record $1.2 billion in a week

Asset-management firm Grayscale Investments increased the Bitcoin Trust (GTBC) assets by a record $1.2 billion over the past week, according to the latest report to the U.S. Securities and Exchange Commission (SEC).

The exact increase in GBTC assets for the period was 35 159 BTC worth $1 276 147 151. In the fourth quarter of 2020 the trust attracted an average of $217 million per week.

As of January 22, the flagship Grayscale product had accumulated 616 558 BTC, according to Bitcoin Treasuries, worth about $20 billion. This accounts for more than 3% of Bitcoin’s current circulating supply.

As reported on January 12, Grayscale resumed accepting investments in some trusts. The company paused fundraising at the end of 2020.

Last year, institutional investors purchased more than 1 million BTC — 5.57% of the cryptocurrency’s market supply. One of the most active investors was Grayscale.

In a previously published report, total inflows into the company’s cryptocurrency trusts in the final months of 2020 amounted to $3.26 billion.

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