Grayscale Crosses $45 Billion in Cryptocurrency Assets under Management

The company now has more than 650,000 Bitcoin under management.

Grayscale, the world’s largest cryptocurrency asset manager, announced today that the total value of the company’s digital assets under management has crossed $45 billion. Bitcoin remained the largest holding of Grayscale as the firm now holds more than 650,000 BTC with a total value of around $38 billion.

According to the official announcement, the company has $45.4 billion worth of cryptocurrency assets under management. Grayscale’s Ethereum assets are now valued at more than $5.7 billion. The company bought more than 45,000 ETH in the last 30 days.

Looking Forward to Meeting You at iFX EXPO Dubai May 2021 – Making It Happen!

Grayscale announced the expansion of the company’s portfolio with the introduction of new cryptocurrency investment trusts earlier this week. The asset manager launched Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL) and Livepeer (LPT) investment trusts.

According to the latest numbers, Litecoin is the 3rd largest holding of Grayscale as the company now holds more than 1.4 million LTC with a total value of around $300 million. Grayscale’s Bitcoin Cash trust has nearly $158 million worth of BCH under management. The company’s Ethereum Classic trust has more than 12 million ETC under management.

Suggested articles

Rob Frasca Talks Ndau as an Adaptive Store of ValueGo to article >>

Purpose Bitcoin ETF

Purpose Investments, a Canada-based investment management firm, recently announced that the company’s Bitcoin ETF crossed $1 billion in assets under management on its one-month anniversary.

“When we launched Purpose Bitcoin ETF, we knew we were filling a void in the market. Hitting this milestone so quickly proves that investors are seeking convenient, safe access to cryptocurrencies and shows their confidence in our ETF as the premier vehicle for that exposure,” Som Seif, Founder and CEO of Purpose mentioned in a statement.

Several companies worldwide have started accelerating their efforts to accumulate Bitcoin and other cryptocurrency assets. Meitu, a Chinese technology firm, announced yesterday that the company purchased nearly $50 million worth of Bitcoin and Ethereum.

Grayscale started this year with nearly $20 billion in cryptocurrency assets under management. The recent surge in the price of Bitcoin and Ethereum has contributed a lot towards the record valuation of Grayscale’s digital assets under management.

Got a news tip? Let Us Know