Holdings of grayscale capital BTC increased by 60,000 in 100 days, and 88 percent of the trust's users are institutional investors

In the past 100 days, Grayscale Investments has increased its bitcoin holdings by 60,000, according to BlockBeats. Considering that 88% of grayscale trust users are institutional users, this finding could be an optimistic indicator of how institutional users view bitcoin.

Since 2017, an independent researcher posted on Reddit's cryptocurrency subreddit has tracked the number of bitcoins in the grayscale bitcoin trust (GBTC). The number of BTC held in grayscale increased from 283,192 on February 7 to 343,594 on May 17, the researchers noted. On May 15, 2020, grayscale capital had assets under management worth about $3.3 billion, according to its official website. To some extent, the number of bitcoins trusted by Grayscale increased by only 30,000 in the 12 months from December 2018 to December 2019.

According to the first quarter report of grey-scale capital in 2020, 88% of users of its bitcoin trust fund are institutional investors. While interest from institutional investors shouldn't be seen as a sure sign of higher bitcoin prices, the Numbers suggest the currency is heading in a better direction.

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