I read the Forbes article earlier today, and it talks about Grayscale holding 1.2% of all the Bitcoin in circulation. Couldn't verify that myself, but does anyone know if they really have 176k++ BTC in custody? That's one big ass piece of whale even if they're only managing it for clients.
according to grayscale's website, there are 229,663,900 shares outstanding at 0.00098247 bitcoin per share = 225,637 BTC held on behalf of clients as of april 30, 2019. that's a lot of coin!
I tell you, if someone gave me a cart of gold bars I'd take it instead of going to Grayscale to "buy Bitcoin" only so that they can "take care of it for me".
brutal management fees too---investors in GBTC lose 2% per year in fees! all for the privilege of trusting someone else.....