{"id":29301,"date":"2020-09-28T14:45:42","date_gmt":"2020-09-28T11:45:42","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=29301"},"modified":"2025-08-27T16:13:36","modified_gmt":"2025-08-27T13:13:36","slug":"grayscale-bitcoin-trust-grows-to-450000-btc-about-2-4-of-current-issuance","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/grayscale-bitcoin-trust-grows-to-450000-btc-about-2-4-of-current-issuance\/","title":{"rendered":"Grayscale bitcoin-trust grows to 450,000 BTC, about 2.4% of current issuance"},"content":{"rendered":"<p>Over the past week, the Grayscale Investments bitcoin trust grew by 17,000 BTC (~$184.5 million at current rates). Such data comes from the resource <a href=\"https:\/\/pro.bybt.com\/futures\/GrayscalePosition\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Bybt<\/a> based on the manager&#8217;s figures.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Grayscale bought 17.1k BTC in the last 7 days.<a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a href=\"https:\/\/t.co\/9GS9tOQxZu\">pic.twitter.com\/9GS9tOQxZu<\/a><\/p>\n<p>\u2014 Bybt (@bybt_com) <a href=\"https:\/\/twitter.com\/bybt_com\/status\/1310049629052911618?ref_src=twsrc%5Etfw\">September 27, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As of September 27, the GBTC bitcoin trust held 449,900 BTC, worth $4.88 billion.<\/p>\n<div id=\"attachment_111487\" style=\"width: 1290px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-111487\" class=\"wp-image-111487 size-full\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/gbtc-bybit.png\" alt=\"Grayscale bitcoin-trust grew to 450,000 BTC. This is 2.4% of current issuance\" width=\"1280\" height=\"600\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/gbtc-bybit.png 1280w, https:\/\/u1f987.com\/wp-content\/uploads\/gbtc-bybit-300x141.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/gbtc-bybit-1024x480.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/gbtc-bybit-768x360.png 768w\" sizes=\"auto, (max-width: 1280px) 100vw, 1280px\" \/><\/p>\n<p id=\"caption-attachment-111487\" class=\"wp-caption-text\">GBTC bitcoin-trust position volume. Data: Bybt.<\/p>\n<\/div>\n<p>Since GBTC&#8217;s creation on September 25, 2013, the company <a href=\"https:\/\/grayscale.co\/bitcoin-trust\/#overview\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">has issued<\/a> 441,417,400 shares, each representing 0.00095671 BTC.<\/p>\n<p>Investors in the bitcoin-trust can invest either in fiat or in-kind, by depositing cryptocurrency in exchange for GBTC shares.<\/p>\n<p>According to Grayscale Investments, in Q3 2019, 80% of GBTC investments <a href=\"https:\/\/grayscale.co\/wp-content\/uploads\/2019\/10\/Grayscale-Digital-Asset-Investment-Report-Q3-2019-October-2019.pdf\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">went to<\/a> the second option.<\/p>\n<p>In the Q2 2020 report, the ratio is not disclosed. However, according to the company, inflows into GBTC were comparable to the value of 70% of the bitcoins mined by miners during that period.<\/p>\n<p>After the third halving in May 2020, the bitcoin-trust&#8217;s growth rate had already outpaced the issuance of the first cryptocurrency.<\/p>\n<p>The current increase in Grayscale&#8217;s reserves comes as Bitcoin&#8217;s price retraces after an unsuccessful attempt to hold above $12,000. Since then, the cryptocurrency has traded in a range of $9,800-$11,200.<\/p>\n<p>449,900 BTC in Grayscale&#8217;s possession accounts for 2.15% of the total bitcoin issuance and nearly 2.5% of the current supply.<\/p>\n<p>According to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Coingecko<\/a>, at the time of publication, 18,502,268 BTC have been issued from the total issuance cap of 21 million coins.<\/p>\n<p>Many users are waiting for a sharp reduction in the supply of coins available for sale. They expect this to push Bitcoin&#8217;s price higher.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">And Grayscale knows that!! Whatever you buy the Bitcoin at current price, if there\u2019ll be limited on no new supply in coming quarters, BTC is bound to go up minimum x2 Fold. And they know it.<\/p>\n<p>\u2014 Rabbit (@rosachde1) <a href=\"https:\/\/twitter.com\/rosachde1\/status\/1310282635696943104?ref_src=twsrc%5Etfw\">September 27, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As reported, the number of bitcoins generated through mining <a href=\"https:\/\/u1f987.com\/en\/news\/fewer-than-2-5-million-bitcoins-remain-unmined\">has surpassed<\/a> the 18.5 million mark. Available to mine remains less than 2.5 million coins, or just under 12% of the total issuance.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over the past week, the Grayscale Investments bitcoin trust grew by 17,000 BTC (~$184.5 million at current rates). Such data comes from Bybt based on the manager&#8217;s figures.<\/p>\n","protected":false},"author":1,"featured_media":29302,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,943,52],"class_list":["post-29301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-grayscale-investments","tag-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"40","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29301","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=29301"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29301\/revisions"}],"predecessor-version":[{"id":29303,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29301\/revisions\/29303"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/29302"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=29301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=29301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=29301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}