Grayscale, the world’s largest crypto asset manager, announced yesterday that the company has more than $38 billion worth of Bitcoin under management. Grayscale’s Ethereum (ETH) Trust remained the second-most valuable investment trust for the company with nearly $5.8 billion worth of ETH under management.
According to the official announcement, the total value of the company’s digital assets under management crossed $45.2 billion on 30 March. The asset manager has more than 651,000 Bitcoin under management.
The total value of the company’s digital assets received a push from the recent surge in Bitcoin and Ethereum. Visa announced earlier this week that the company is planning to allow settlement of fiat transactions on the Ethereum blockchain. Payments giant, PayPal announced the launch of the ‘Checkout with Crypto’ service yesterday to allow US-based consumers to pay merchants through cryptocurrency assets.
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Bitcoin is currently trading near $59,000 with a market cap of more than $1.1 trillion. Grayscale accelerated the accumulation of the world’s largest cryptocurrency in the last quarter of 2020. The crypto asset manager started this year with approximately $20 billion in digital assets under management.
Cryptocurrency Investment Trusts
Grayscale expanded its portfolio with the launch of Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL), and Livepeer (LPT) investment trusts earlier this month. The latest numbers from Grayscale show that the company has attracted substantial investments in its newly launched investment trusts. Despite the reason that Bitcoin and Ethereum account for nearly 95% of the company’s total digital assets under management, Grayscale has a substantial amount of Litecoin (LTC) and Ethereum Classic (ETC) under management. The company has nearly 1.5 million LTC under management with a total value of approximately $293 million. Grayscale’s Ethereum Classic (ETC) assets under management are valued at $158 million.
Bitcoin Cash (BCH) is the 5th largest holding of Grayscale as the asset manager has nearly 290,000 BCH valued at more than $150 million.