Grayscale Bitcoin Trust Shares Goes Up 14% Amid Crypto Price Rally Author: Ali Raza Last Updated: 19 June 2020 Wednesday marked a sharp rise in price to buy Bitcoin, and as one would imagine, many firms saw an increase in business because of it. One such business, the Grayscale Bitcoin Trust, or GBTC, saw notable gains in its shares. Halving Hype Earning Share Price Increase The sudden rally in Bitcoin, which many analysts attribute to the miner reward halving being less than two weeks away, helped boost the price of Bitcoin as high as $9,440. While the price has gone down to more stable levels, the $8,700 range, GBTC managed to gain 14.3% on a single day. The investment vehicle now holds a market price share of $9.60 at the session close. Grayscale had other successes as well, an example being its Ethereum Trust. The Ethereum trust managed to gain a substantial increase of 7.7%, up to $104,50 per share. It should be essential to know that Grayscale itself is owned by the Digital Currency Group. FOMO-Induces Market Rally The new driving force behind the Bitcoin rally has been attributed to investors holding an acute sense of fear of missing out, or FOMO, that came as Bitcoin rallied alongside the halving coming so soon. The halving event itself will cut the miner rewards by 50%, hence the name, and the trust’s share prices have been profiting amid the buildup. As it stands now, Bitcoin is trading at $8,778.95 at the time of writing, marking a stark increase from the crash witnessed on the 12th and 13th of March. Prices bottomed out below the $400 mark, and has been rendered a historic crash in the industry as a whole. Now, though, things are going well, with prices having peaked at above $9,400 before going back down again. Grayscale Gaining Traction Amid Market Rally As it stands now, Grayscale’s total net assets under management, or AUM, has managed to top the $3 billion mark. This news comes from a tweet from the institutional investment firm itself, who managed the top 10 cryptocurrencies out there. Within Grayscale’s roster stands assets like Ether (ETH), Bitcoin Cash (BCH), buy Ripple XRP, and buy Bitcoin. 04/29/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products. Total AUM: $3.0 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC pic.twitter.com/NatvRcoG39 — Grayscale (@GrayscaleInvest) April 29, 2020 It should be mentioned, however, that the pricing that Grayscale uses to determine the total AUM is based on private placement offering price. Instead, it’s based on the sale of shares sold to various pre-selected investors or institutions and is further calculated using non-GAAP methodologies.