Grayscale's assets under management (AUM) are now worth $19 billion, according to founder and CEO Barry Silbert, up 150% since November. Silbert announced in a tweet on Tuesday that Grayscale’s AUM has tripled from November 1, when it had $7.6 billion in assets under management. One analyst pointed out that institutional invests like Grayscale now own approximately 16% of all bitcoin in circulation. The trust experienced $719 million in Q3 inflows, up 1,500% from their average monthly inflows over the past year. Grayscale has succeeded by exploiting a regulatory quirk to create a virtual monopoly in publicly-traded shares of cryptocurrency by using a trust instead of an exchange traded fund (ETF). For this reason, the Grayscale Bitcoin Trust does not track the price of bitcoin and often trades several hundred basis points above or below the market price of its core assets. There has been tremendous demand for the Grayscale stock (GBTC) due to the exposure to an uncorrelated asset class and the legal and tax advantages of owning company shares instead of a commodity. Millennials have traded GBTC in greater volumes than shares of Netflix or Disney this year. The Grayscale Bitcoin Trust holds 655,172 BTC — which represents 70% of the crypto assets of all publicly traded companies, according to Bitcoin Treasuries. It's really hard to comprehend the potential value of half-a-million bitcoin in the future, but Grayscale seems up for the task of finding out.