JP Morgan Chase more and more on Bitcoin (BTC). Gone are the days when the other right bank was linked to “stupid employees” who dared to catch them. Turning Wall Street into gold
Grayscale Bitcoin Trust is an “ETF” used to test Bitcoin (BTC). The fund is related to 7.64 billion bitcoins and is the bitcoin holder in the world. After taxes from bitcointreasuries.org, the company has managed 481,711 BTC- 481,711 reserves. That is 2.29% of all Bitcoin companies that are kept by companies like MicroStrategy or Square. This is also made up of 84% of ETFs.
The total volume of the grayscale fund over $ 9 billion. It is Bitcoin and also Ethereum (ETH), Zcash (ZEC), Bitcoin Cash (BCH) and others:
As a reminder, the ETF (Exchange-Traded Fund) is a financial product that should faithfully replicate taxes on assets (like gold, stock market stocks, etc.) up and down. There are two types of ETFs.
The derivative that belongs to GrayScale is a wallet with Bitcoin.
It is being drawn as a “bad” ETF as it is management that is ongoing. The fund uses the derivative of futures, swaps, etc.
JP Morgan support Bitcoin Rush
JP Morgan indicated that the investment flow in October was a clear preference for grayscale ETFs.
“This contrast supports the idea that some investors like super-wealth managers, who previously put their money in ETFs, maybe turning to Bitcoin as an alternative to gold. “
That’s why GrayScale’s ETF owned a 97% better performance than the U.S. ETF in September, this new administration isn’t below The fund will be more than 3 billion in the first quarter of 2020, more than 1 million US dollars given.
The Grayscale Ethereum Trust has done well this year, but we can bet that bitcoin’s part of dominance will push the company to gain bitcoin’s part of the investment portfolio.
Bitcoin’s dominance over hidden rights 64%. If we can withstand stable coins, even 81%. Was it justified to use cryptocurrencies in the narrower sense (no blockchain)?
If you like altcoins, it’s best to follow grayscale on Twitter. The fund has moved from its baskets in its school bags.
Currency hegemony is always a battle for death. There is always room for several cryptocurrencies, there still is. Bitcoin remains the chosen one.
As more and more possessed gold think, Remember that Bitcoin will increase the price of gold 40 times. This article and report that JP Morgan found that the value of Bitcoin is being multiplied by 10.