Data from Morningstar via the Wall Street Journal reports massive returns for Digital Asset management fund GBTC. In the previous week, the fund was hailed as the best achiever in the market.
Digital Currency Group Inc. is the parent company under which Grayscale functions. During the 2017 bullish wave of Bitcoin, more than 1,300% appreciation was observed.
The trust buys bitcoin (BTC) and trades shares via the over-the-counter (OTC) exchange OTCQX. BTC’s assets at the end of June had crossed $2.50 billion. At that time, the total amount of assets were worth $2.69 billion.
This shows how huge the returns have been for GBTC when BTC executes a bullish climb. $50,000 in shares and investor status is paramount to have primary shares.
Ethereum classic (ETC), ZCash (ZEC) and litecoin (LTC) are the asset funds which were made available. Organizations had stakes in 66% of investments.
During the U.S.-China trade war, as the Yuan fell, Bitcoin scaled high. This was proven by Grayscale by research conducted. Bitcoin is still the best performing asset in the market, staying true to its name “Gold 2.0”.
Private placement of Grayscale Bitcoin Trust (GBTC) shares has begun again, a press release stated a day ago. Investors can transfer money into bitcoin in a classic manner. Shares will be declared for the person who invests.
A share of GBTC is equal to 0.00097876 Bitcoin as of the latest data. GBTC has more than $2.66 billion in assets[management].
Grayscale Investments markets itself as “the world’s largest digital currency asset manager”. Their Headquarters are in New York City.
7/8/19 UPDATE: Holdings per share, net assets under management and digital assets per share for our investment products.
— Grayscale (@GrayscaleInvest) July 8, 2019
Coincidentally, Bitcoin[BTC] received a great boost in the market. The price grew by 4.19% in the course of the past 24-hours. For now, BTC stands at $12,338.70. The trading volume recorded is #28.132 billion. The total market cap for Bitcoin is $219.728 billion.