Grayscale Bitcoin Fund Assets Grow 10x Year-Over-Year

Grayscale Investment’s flagship Bitcoin Trust fund has seen a ten-fold increase in assets under management year-over-year.

The average weekly investment in Q1 2019 was just $3.2 million, compared to nearly $30 million this year. The growth has allegedly been the result of the arrival of ‘institutional money.‘ Long considered the future hope of Bitcoin and cryptocurrencies, large-scale institutional investors would bring massive investment into the space.

Grayscale Investments Bitcoin BTC — Chart courtesy of @kerooke

A number of comments in the tweet suggest that the company’s growth is due largely to small-time investors who are learning about cryptocurrencies. Interestingly, the $30 million figure represents more than half of all Bitcoin mined each week considering only 900 BTC are mined each day now. With block rewards decreasing, Grayscale has been able to purchase such a large percentage. Grayscale founder and CEO Barry Silbert weighed in on the tweet as well, hinting that the growth looks to be continuing in Q2.

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Jon Buck

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With a background in science and writing, Jon's cryptophile days started in 2011 when he first heard about Bitcoin. Since then he's been learning, investing, and writing about cryptocurrencies and blockchain technology for some of the biggest publications and ICOs in the industry. After a brief stint in India, he and his family live in southern CA.

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