Bank of America: Grayscale holds 700,000 Bitcoins worth more than $31 billion

Bank of America said in a report on Wednesday that Grayscale Investments, the operator of the Grayscale Bitcoin Trust, may hold as many as 700,000 bitcoins, accounting for about 3.5% of the world's total bitcoin supply, worth more than $31 billion, making it the world's largest public holder of bitcoin.
As of Tuesday, Grayscale Bitcoin Trust had $36.1 billion in assets under management.
"The trust has been steadily buying bitcoin in 2020, particularly in the fourth quarter, and has become one of the top five holders of the cryptocurrency," Bank of America said.
Grayscale Bitcoin Trust was established in 2013 as a top choice for investors who want to add Bitcoin exposure to their portfolios without buying the cryptocurrency directly. For years, Grayscale's trust has been the only option for investors seeking easy access to Bitcoin as the U.S. Securities and Exchange Commission (SEC) has been blocking the launch of a Bitcoin ETF.