[2020-09-28] Grayscale Investments now controls 2.4% of the current BTC supply

[Karartma1]

Crypto fund manager Grayscale Investments has increased the assets under management in its Bitcoin Trust by more than $180 million over the past week.

According to data from information platform Bybt, Grayscale added 17,100 Bitcoin (BTC) to the firm’s Bitcoin Trust in the last seven days. The company now has 449,900 total coins under management — worth roughly $4.9 billion with the crypto asset at $10,890, closing above $10,000 every day for the last 63 days.

This effectively means Grayscale controls roughly 2.4% of total coin supply — currently at 18,502,381 according to CoinMarketCap — and shows no signs of stopping its buying spree. The total supply of Bitcoin is capped at 21 million, meaning there are roughly 2.5 million BTC left to be mined, or about 11.9% of the total Bitcoin to be generated. Even if the firm were to stop amassing coins now, it would still have control of more than 2% of all Bitcoin in circulation by the time the final block is mined.

https://cointelegraph.com/news/grayscale-investments-now-controls-24-of-the-current-btc-supply

Holy Gray(l)scale

[bryant.coleman]

I did a bit of research about Grayscale Investments. One thing I liked about them is that 44% of their funding comes from non-institutional investors. This include individual investors, as well as retirement investors. However, I heard that their fees is quite high. From what I have heard, they charge 2% per year in fees. For comparison, most of the mutual funds have an annual fund maintenance fee of 0.25% to 0.50%.

[hv_]

I did a bit of research about Grayscale Investments. One thing I liked about them is that 44% of their funding comes from non-institutional investors. This include individual investors, as well as retirement investors. However, I heard that their fees is quite high. From what I have heard, they charge 2% per year in fees. For comparison, most of the mutual funds have an annual fund maintenance fee of 0.25% to 0.50%.

You say it s cool that uninformed ppl's money getting 'moved' big by central decision makers ? - > What s different to banks here ? (kraken cough)

[Harlot]

I did a bit of research about Grayscale Investments. One thing I liked about them is that 44% of their funding comes from non-institutional investors. This include individual investors, as well as retirement investors. However, I heard that their fees is quite high. From what I have heard, they charge 2% per year in fees. For comparison, most of the mutual funds have an annual fund maintenance fee of 0.25% to 0.50%.

You say it s cool that uninformed ppl's money getting 'moved' big by central decision makers ? - > What s different to banks here ? (kraken cough)

We don't have any choice here because it is inevitable that the institutional money will be moving inside the crypto market, so really the only choice we have is to take advantage of it and by that I mean just go with the flow with what the big companies will be doing everytime they are moving their crypto assets, it is similar to what we are doing when whales move the market which we also move as well. I don't even think that they will give that big of a difference as even before their money is involve the market was already volatile with the whales we have.

[hv_]

I did a bit of research about Grayscale Investments. One thing I liked about them is that 44% of their funding comes from non-institutional investors. This include individual investors, as well as retirement investors. However, I heard that their fees is quite high. From what I have heard, they charge 2% per year in fees. For comparison, most of the mutual funds have an annual fund maintenance fee of 0.25% to 0.50%.

You say it s cool that uninformed ppl's money getting 'moved' big by central decision makers ? - > What s different to banks here ? (kraken cough)

We don't have any choice here because it is inevitable that the institutional money will be moving inside the crypto market, so really the only choice we have is to take advantage of it and by that I mean just go with the flow with what the big companies will be doing everytime they are moving their crypto assets, it is similar to what we are doing when whales move the market which we also move as well. I don't even think that they will give that big of a difference as even before their money is involve the market was already volatile with the whales we have.

Right, I just tried to make the point that speculation is not really the first / best use case for Bitcoin at all - but rather the dumb / default one and tulip bubble happens - and ....


Micropayments and inclusion of world trade - P2P  & interoparable it was and still is imo - that gives it value  and back to society , sustainable

[ArranoNetwork]

Crypto fund manager Grayscale Investments has increased the assets under management in its Bitcoin Trust by more than $180 million over the past week.

According to data from information platform Bybt, Grayscale added 17,100 Bitcoin (BTC) to the firm’s Bitcoin Trust in the last seven days. The company now has 449,900 total coins under management — worth roughly $4.9 billion with the crypto asset at $10,890, closing above $10,000 every day for the last 63 days.

This effectively means Grayscale controls roughly 2.4% of total coin supply — currently at 18,502,381 according to CoinMarketCap — and shows no signs of stopping its buying spree. The total supply of Bitcoin is capped at 21 million, meaning there are roughly 2.5 million BTC left to be mined, or about 11.9% of the total Bitcoin to be generated. Even if the firm were to stop amassing coins now, it would still have control of more than 2% of all Bitcoin in circulation by the time the final block is mined.

https://cointelegraph.com/news/grayscale-investments-now-controls-24-of-the-current-btc-supply

Holy Gray(l)scale

Grayscale is a good entity for Individual investors and beginners with lower fees .

[Betwrong]

~
Right, I just tried to make the point that speculation is not really the first / best use case for Bitcoin at all - but rather the dumb / default one and tulip bubble happens - and ....


Micropayments and inclusion of world trade - P2P  & interoparable it was and still is imo - that gives it value  and back to society , sustainable

I think Bitcoin shouldn't be compared to tulips, because the latter had no value apart from being a fashionable thing, and the tulip speculative bubble should have burst sooner or later. But Bitcoin, as you rightly pointed out, has a real value, and thus it should be rather compared to AAPL or GOOG, the stocks that can be speculated as much as you like, without leading to something like the tulip bubble burst.

[bbc.reporter]

I did a bit of research about Grayscale Investments. One thing I liked about them is that 44% of their funding comes from non-institutional investors. This include individual investors, as well as retirement investors. However, I heard that their fees is quite high. From what I have heard, they charge 2% per year in fees. For comparison, most of the mutual funds have an annual fund maintenance fee of 0.25% to 0.50%.

What are the names of those individual investors? They might be the whales of the cryptospace that have a professional relationship with Barry Silbert. I am quite certain they are not poor like us hehehe.

[NeuroticFish]

This effectively means Grayscale controls roughly 2.4% of total coin supply

The numbers they are reporting may or may not be according to the reality. They may have sold or they may have bought more than reported.
But they do have huge amount of Bitcoin and while it's a good news - it's indeed a proper investment in Bitcoin - it's also scary, since it gives them quite a lot of power in manipulating the price if they want to.

Grayscale is a good entity for Individual investors and beginners with lower fees .

You obviously didn't follow the discussion. 4 posts before you was written that their fees are actually pretty high for what they are doing.

[bryant.coleman]

I did a bit of research about Grayscale Investments. One thing I liked about them is that 44% of their funding comes from non-institutional investors. This include individual investors, as well as retirement investors. However, I heard that their fees is quite high. From what I have heard, they charge 2% per year in fees. For comparison, most of the mutual funds have an annual fund maintenance fee of 0.25% to 0.50%.

What are the names of those individual investors? They might be the whales of the cryptospace that have a professional relationship with Barry Silbert. I am quite certain they are not poor like us hehehe.

Well.. it is impossible to find out how many of these individual investors are HNWs and how many of them are middle-class. Grayscale Investments claim that around one-sixth of their customers are retirement investors. I would assume that the vast majority of this figure is comprised of upper middle-class individuals. And regarding the remainder of individual investors, it is difficult to make assumptions (unless more data is disclosed by Grayscale).

[gentlemand]

It would be pretty funny if their ever growing behemothosity started to make the SEC warier of going deeper into approving crypto-related things. It's quite possible just them and Coinbase could wind up being in control of a crazily high percentage of available coinage.

[cr1776]

It isn't all that surprising that it is one of the few (only(?) in the US) ways you can purchase bitcoin from your brokerage account.   An ETF or other vehicle with lower costs and less of a spread between the market price and the value of one bitcoin would be more than welcome.