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Grayscale still accumulating Bitcoin despite halting fund inflow

Saudu Clement
Saudu Clement

Leading digital asset fund manager, Grayscale, has continued to accumulate bitcoin despite temporarily suspending inflows into its Bitcoin Trust.

It was reported on Monday by multiple news outlets, including Yahoo Finance, that the world’s biggest bitcoin buyer had temporarily stopped accepting new clients in six crypto trusts. However, despite the suspension, the firm is still eager to accumulate more bitcoins.

A tech analyst, Kevin Rooke, revealed on Twitter that the firm had added another 12,319 bitcoin to its Bitcoin Trust. He said:

Grayscale’s Bitcoin Trust just added 12,319 BTC to $GBTC in a single day. That’s more than the 11,512 BTC they added during all of last week, when Bitcoin broke its ATH.

At the current price of Bitcoin, this is worth over $283 million.

It can be recalled that an analyst from the banking conglomerate, JPMorgan, had earlier claimed that Grayscale was one of the key players preventing bitcoin from correcting. With its recent purchase of over $280 million, the firm now has more than $16.1 billion in crypto assets under management.