Earlier this week our research highlighted institutional flows into the Grayscale Bitcoin Trust (only qualified accredited investors can invest directly in GBTC with a minimum investment of $50,000) reaching an all-time high. New data from both the CME Group and bitcoin ETP provider Coinshares (Bitcoin XBTE – Euro) reaffirms outsized demand from institutional/accredited investors for bitcoin financial products.
Elsewhere, synthetic-options platform Deribit also registered its highest volume day this week, as the implied probability of bitcoin prices ending the year at or above $10,000 shifted to 50%, up from 20% at the end of April.
GBTC trading volumes reach 13-month high, with 99% of total Grayscale inflows directed towards BTC in 1Q
Grayscale, the world’s largest cryptoasset manager with now more than $1.8 billion in AUM, saw its GBTC trading volume reach a 13-month high yesterday, almost double Y/Y highs set in May 2018.
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