Cryptocurrency hedge fund, Grayscale Investments, now holds more than 500,000 Bitcoins ($8.35 billion) in its Bitcoin Trust. Grayscale now has $8.35 billion worth of Bitcoin, according to its most recent post.
The report via its Twitter feed said, “Grayscale Bitcoin Trust now holds more than 500,000 $BTC. Yes, you read that right. Learn more about the world’s largest #Bitcoin investment product.”
Investors are increasing their cash flow investments to notable crypto hedge funds, who are prepared to pay a premium to buy and hold cryptos through the security of a regulated fund like Grayscale.
Grayscale Bitcoin Trust is a traditional investment vehicle with shares titled in the investors’ name, providing a familiar structure for financial and tax advisors and easy transferability to beneficiaries under estate laws.
Nairametrics a few days ago disclosed how the world’s leading crypto hedge fund, Grayscale, is on the grip of reaching a major milestone, as its crypto holdings are now worth $9.8 billion.
New numbers on Grayscale’s crypto products shows the company now has $9.8 billion in Assets Under Management (AUM), rapidly approaching the $10 billion mark.