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16th Nov 2020
CryptoAltum Research Team

Institutions Bought $262 Million Worth of BTC Shares From Grayscale Investment

Michael Sonnenshein, the Managing Director of Grayscale Investment, a Securities Exchange Commission (SEC) reporting company, said $262 million were poured into the firm’s Bitcoin trust shares, slightly more than double what was invested on Nov 12. The uptick in participation was the company’s largest in its history, hinting at growing confidence in Bitcoin and its trusted ability to store value in times of turbulence.


Bitcoin is more than a medium of exchange. Over time, its fixed supply and transparent yet censorship-resistant transactions mean the digital asset is used predominantly as a store of value, just like gold. Grayscale Investment is regulated and accredited investors--usually high net-worth investors and institutions, use the platform as a portal for legally exposing themselves to cryptocurrencies--mostly BTC, by purchasing the firm’s GBTC trust shares. Last week’s influx hints of a possible trend continuation despite deep corrections and the inability of bulls to sustain prices above $16,000.

Impact on the BTC Price: 

Bullish. The 2017 bull run was pumped by retailers. The subsequent correction of 2018, christened the crypto winter, shook off speculators. Since then, there have been favorable regulations streamlining processes and most importantly, providing clear definitions of what cryptocurrencies are. The entry of institutions--through portals like Grayscale Investments, points to renewed confidence of institutions and their likely positioning in BTC, helping steady price and deepen liquidity.

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