Grayscale reports record daily inflow of 16,244 BTC into Bitcoin Trust

On January 18, Grayscale Investments, the asset-management company, increased the assets of the Bitcoin Trust (GTBC) by 16,244 BTC, worth nearly $600 million.

.@Grayscale added a whopping ~16,244 #Bitcoin yesterday, which equals 18.05X of daily bitcoin mined

In total the trust holds 632801.4331 BTC. Yesterday also marked the day their holdings surpassed 3% of 21M

If the trend from Q420 persist, this is inflow is ~93% institutional. pic.twitter.com/ORKrSQgeWR

— GBTC Bitcoin Tracker (@GbtcT) January 19, 2021

As of January 19, the firm’s flagship product had accumulated 632,801 BTC worth about $24 billion. This accounts for more than 3% of Bitcoin’s current supply.

GTBC remains Grayscale’s most popular product among investors. The fund accounts for more than 88% of the company’s total assets under management.

The Bitcoin Trust grew by an average of $217 million per week in Q4 2020.

On January 15, assets under management rose by $700 million. The company’s chief executive, Michael Sonnenshein, said the day marked a record daily increase.

Yesterday, @Grayscale raised north of $700 million into its family of products…momentum from Q4 seems to picking up speed into the new year.

If you haven’t checked out our 4Q20 report yet: https://t.co/SwqBKwvO1S

— Michael Sonnenshein (@Sonnenshein) January 16, 2021

It seems the fourth-quarter momentum is gaining steam into the new year, he added.

In a report published earlier, total inflows into Grayscale Investments’ cryptocurrency trusts in the final months of 2020 amounted to $3.26 billion.

Earlier in January, Grayscale Investments reopened accepting investments in some trusts. The company paused fundraising at the end of 2020.

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