More than one billion a day is exchanging hands on stock traded GBTC which has seen increased interest as the main way for Americans to enter bitcoin in a stock form.
ETHE is somewhat far behind, but its volumes too have increased to now $150 million a day.
GrayScale has filed a notice of exempt offering today showing $919 million was issued to 514 investors.
For bitcoin $5 billion was issued to 837 investors. BCH saw some stock issuance too at $77 million while for ETC it was higher at $95 million.
GrayScale’s total assets under management have now risen to $28 billion. Some $24 billion just for bitcoin, about $4 billion for eth, and small crumbs for the rest.
Making this now a significant avenue for bitcoin price setting as a number of big investors have said they plan to enter the market through GrayScale.
As a regulated entity that deals with custody, it makes bitcoin trading like any other stock from traditional and established infrastructure.
Thus it has attracted some institutional investors as well as arbitragers due to its significant premium of $2,000 for bitcoin.