Digital asset manager Grayscale Investments has added another 2,172 Bitcoin (BTC) to its Bitcoin Trust, on the first day it reopened deposits for the fund.
According to GBTC Bitcoin Tracker, Grayscale’s Bitcoin Trust (GBTC) added 2,172 Bitcoin, worth roughly $85 million.
After tapping $40,000 level again lately, the largest cryptocurrency by market cap is currently trading at $39,262, up 5.2% over the last 24 hours.
“After a break since the 24th of December, Grayscale’s Bitcoin trust is as of yesterday open to new investment. In their first day back they added 2,172 Bitcoin, which equals 2.41X of bitcoin mined,” GBTC Bitcoin Tracker tweeted.
The current reward for discovering a new Bitcoin block is 6.25 BTC. Considering the Bitcoin blockchain’s hardcoded production rate of one block per 10 minutes, there is currently 900 BTC being produced every 24 hours.
Before the new year, the Grayscale Bitcoin Trust temporarily stopped onboarding new investors on December 21, and reopened for accepting new investors earlier this week.
Grayscale Raised $3 Billion in Q4
According to Grayscale’s latest investment report, Grayscale, the world’s largest digital currency manager, raised $3.3 billion across its cryptocurrency investment vehicles in last year’s fourth quarter.
Grayscale said it saw record investor demand in the fourth quarter, with approximately $3.3 billion in inflows. Institutions accounted for 93% of capital inflows, or $3.0 billion. It now has $20.2 billion under management, surging more than 900% from just $2 billion at the beginning of 2020.
Its flagship product, Grayscale Bitcoin Trust, ended the 2020 with assets of $17.5 billion, from $1.8 billion at the beginning of the year.
Additionally, Grayscale provides investment opportunities for other major cryptocurrencies, including Ether (ETH) and Litecoin (LTC).
It recently announced that it has begun dissolution of its Grayscale XRP Trust. Cash proceeds from the trust’s liquidated XRP will be distributed to shareholders.
The move follows the US Securities and Exchange Commission (SEC)’s lawsuit against XRP’s original creator, Ripple. In the lawsuit, SEC alleged the XRP token is a security under federal securities law.
“It is likely to be increasingly difficult for U.S. investors, including the Trust, to convert XRP into U.S. dollars, and therefore continue the Trust’s operations,” Grayscale said.
Earlier January, Grayscale removed XRP from its large-cap crypto fund.