‘Lone’ Bitcoin Investment Trust Below $1 Bln for First Time in 2018

Grayscale’s Bitcoin Investment Trust (GBTC) was worth less than $1 billion for the first time this year, Diar reports Dec. 3. Grayscale is purportedly the ‘lone’ Bitcoin (BTC) investment trust in the U.S. While the fund’s worth in dollars has decreased, its saw a record number of Bitcoin deposits. GBTC, reportedly “the cryptocurrency’s space largest institutional investment firm” is now holding over 203,000 BTC, which Diar points out is “just over 1 percent of circulating supply.” The report states that “record inflows however have resulted in record Bitcoin equivalent holdings…