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Grayscale Hasn't Bought A Single Bitcoin in Over 3 Weeks

Published 07/17/2020, 05:22 PM
Updated 07/18/2020, 07:00 PM
Grayscale Hasn't Bought A Single Bitcoin in Over 3 Weeks
BTC/USD
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Given the rate at which Grayscale usually buys Bitcoin, it seems like the cryptocurrency fund management company was trying to buy every single Bitcoin in existence. But this pattern ground to a halt more than three weeks ago and hasn’t picked up again since.

Grayscale Bitcoin Trust Fund (GBTC) would typically file a Form 8-K with the Securities and Exchange Commission (SEC) on a weekly basis, declaring its latest Bitcoin acquisitions. But the last time such a report was filed was June 25, when the company disclosed the purchase of almost 20,000 BTC. According to its second quarter report, GBTC was raking in an average of $57.8 million a week in investments.

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