Grayscale, one of the largest cryptocurrency managers, recently announced that it has $ 43,3 billion worth of crypto assets under management.
In the official Twitter announcement, it is stated that Bitcoin and Ethereum account for over 90% of the total value of Grayscale's cryptocurrencies. Bitcoin represents $ 36 billion a quotation current, while Ethereum stands at $ 5,8 billion. The company has more than 650.000 BTC and 3,17 million ETH. Specifically, in the past 30 days, the company has bought 130.000 ETH.
Another sign of growth for cryptocurrencies?
According to data provided by the Bybt analytics service, Grayscale has acquired huge amounts of various cryptocurrencies, including Litecoin (LTC) and Bitcoin Cash (BCH), following the recent rise in cryptocurrency prices.
According to reports, Grayscale acquired about 80% of the total litecoins mined in February. Currently, the cumulative value of the company's LTC assets under management is approximately $ 294 million.
On March 3, Grayscale bought 1822 BCH for a value of $ 955.165 and 80300 ETC for a value of $ 895.949. Grayscale's BCH resources amount to $ 160 million (290000 BCH). Additionally, the company owns ZEN, ZEC, XLM, and Ethereum Classic.
Recently, the company announced that it plans to add another 23 digital assets. Including Chainlink, Polkadot, Cardano, Aave and Tezos, among others.
The company has no intention of stopping
Last year, Grayscale started with assets of just $ 2 billion. At the end of last year, the company recorded an increase of more than 900% in its assets under management, bringing its value to more than $ 20 billion.
At the time, Grayscale CEO Michael Sonnenshein attributed the growth to investments by institutional investors, particularly hedge fund investors. In its Q4 2020 report, Grayscale said that:
“Average engagement between institutions is also growing at a significant rate. The average commitment of the institutions was 6,8 million dollars, compared to an average of 2,9 million dollars in the third quarter of the year ”.
Last month, Grayscale announced that its crypto assets under management had crossed the $ 30 billion mark. The firm now offers nine different crypto investment products after closing the XRP trust following the Securities Exchange Commission's ongoing troubles with Ripple.
The remaining products are Bitcoin Trust, Ethereum Classic Trust, Horizen Trust, Litecoin Trust, Bitcoin Cash Trust, Ethereum Trust, the large cap digital fund, Stellar Lumens Trust and Zcash Trust.
Grayscale also owns the world's leading Bitcoin Trust. Altshuler Shaham, an Israeli pension company, is among the many investment houses that have invested in this business. According to reports, the company has invested $ 100 million in Grayscale Bitcoin Trust (GBTC).