Grayscale Bitcoin Trust (GBT) is Outperforming Bitcoin (BTC) by 19%


The digital asset management firm, Grayscale’s Bitcoin Trust is outperforming the gains on the leading cryptocurrency itself.

Grayscale Bitcoin Trust that provides exposure to the price performance of Bitcoin has been making significant gains since Bitcoin started surging in early last week, in fact, more than Bitcoin itself.

Since April 2nd breakout, when Bitcoin surged from $4,100 to $5,400, the flagship cryptocurrency surged 28 percent. At the time of writing, BTC/USD has been trading at $5,017 with 24-hours loss of over 4 percent, with a market cap of $88 billion.

Meanwhile, in comparison to BTC’s surge Grayscale Bitcoin Trust has taken a hike of 47 percent since greens entered the market on April 2nd. Yesterday only, GBTC has been up 10 percent while BTC saw 2 to 3 percent rise.

As Gabor Gurbacs says,

“GBTC premium/discount swings are enormous.”

In August, last year this premium was 50 percent that dropped to 38 percent in about three days which has been further expected to take a drop.

Grayscale Bitcoin Trust surpassing Bitcoin according to economist and analyst, Alex Kruger is

“another symptom of new money coming into crypto.”

As the top cryptocurrency started seeing gains and showing more signs of the surge, more people are getting interested in the Bitcoin and investing in the hope of an upcoming bull rally.

Grayscale Has $1.2 Billion Assets Under Management

According to the latest stats shared by the company for April 10th, it has $1.2 billion worth of digital assets under management. Among these assets, the Bitcoin Trust currently holds the highest amount of fund at $1,151 million.

BTC fund is followed by Ethereum Classic Trust that has over $34 million assets under management and then Zcash at $9.8 million. Grayscale Ethereum Trust follows ZEC close behind at $8.7 million. Grayscale Bitcoin Cash and XRP both have each $4.7 million respective digital assets under management while Litecoin and Stellar both have the least amount of AUM at $0.5 million.

Recently, we reported that Grayscale has decreased the share of XRP in favor of Bitcoin and Litecoin. The cut has been of 2.8 percent which is the maximum percentage of change in any of the Grayscale cryptocurrency funds.

Bitcoin saw an increase of more than 2 percent in its digital assets fund the same as Litecoin. Ethereum and Bitcoin Cash saw a really small change of about 0.3 and 0.1 percent respectively.

Barry Silbert, the CEO, and founder of Grayscale Investments and Digital Currency Group says he is “as bullish as he has ever been” on Bitcoin. He further said in an interview with CNBC that a lot of money from gold will eventually flow into BTC.

“I’m convinced that whatever money is in gold is not going to stay in gold. That gets handed down to millennials – I’m highly confident a lot of that will go into Bitcoin,”

Silber said.

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