Grayscale Investments Purchases Another 17,100 BTC

Bitcoin

Grayscale Investments Trust has reportedly purchased another 17,100 BTC with an investment of almost $186 million. With this purchase of BTC, Grayscale Investments’ total Bitcoin (BTC) holdings have also increased to approximately $6 billion as well.

According to the latest report shared by Grayscale Investments, total assets under management (AUM) by Grayscale Investments Trust now stand at around $5.8 billion.

Out of the total investment of the Grayscale Investments Trust, now approximately 82.75 percent belong to its largest fund known as The Grayscale Bitcoin Trust (GBTC). This means that Grayscale now has $4.8 billion approximately in its Bitcoin Trust fund at the moment.

While on the other hand, 13.5% of the total investment is in the Ethereum Trust which is by far the second-largest fund and contains around $784 million in it.  Other shares of investments are available in Bitcoin Cash (BCH), Ethereum Classic (ETC), Litecoin (LTC), Ripple (XRP), Zcash (ZEC), etc, which are comparatively smaller trust funds.

Grayscale said that the investors of the next generation are a lot more interested in the world’s largest digital currency Bitcoin (BTC) and it is the time to pay attention to them. The firm further said that during the next 25 years $68 trillion is expected to be transferred to the new generations. The first stated:

“$68 trillion will be transferred from older generations to younger generations over the next 25 years. It’s time to pay attention to the behaviors of the next generation of investors.”

This investment made by Grayscale in the leading cryptocurrency Bitcoin in an attempt to purchase additional BTC shows that the institutional interest in Bitcoin and other digital assets is still continuing in spite of the fact that the major digital currency has been continuously consolidating for the last few weeks.

Recently, the weekly candle of Bitcoin had closed bullish as the coin moved a little higher towards its past resistance level. According to the cryptocurrency analyst Josh Rager, this bullish weekly close is good for Bitcoin as it will help the coin to reclaim $11,000 very soon. Currently, the price value of BTC is trading at around $10,900 at the time of writing.

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