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HomeNewsGrayscale’s Cryptocurrency Assets under Management Reaches $36 Billion

Grayscale’s Cryptocurrency Assets under Management Reaches $36 Billion

Grayscale, the digital assets management firm, announced today that the total value of its cryptocurrency assets under management has reached $36.5 billion. The highest level in the company’s history.

According to the official announcement by Grayscale, Bitcoin remained the largest holding of the company with nearly 650,000 Bitcoin under management. The total value of the firm’s BTC assets stands at around $30.7 billion. Grayscale purchased 493 BTC worth nearly 23 million in the last 24 hours. The cryptocurrency asset manager accelerated its Bitcoin accumulation in the last 30 days with the purchase of 43,217 BTC.

Grayscale bought 116,174 Ethereum during the last 4 weeks as the total value of the company’s ETH holding jumped above $5.4 billion. The company added 12,450 ETH worth nearly $22.5 million in the last 24 hours.

Grayscale started this year with nearly $20 billion in digital assets under management. The price jump in Bitcoin, Ethereum, and Litecoin pushed the valuation of the company’s assets to a record high. Grayscale also accelerated its accumulation of Bitcoin and Ethereum as the fund saw record institutional inflows.

Litecoin, Bitcoin Cash and Ethereum Classic

Apart from Bitcoin and Ethereum, Grayscale has increased its altcoin holdings with significant accumulation of cryptocurrency assets like Litecoin, Bitcoin Cash and Ethereum Classic. The company purchased 9,803 Litecoin worth nearly $1.9 million in the last 24 hours as the total value of Grayscale’s LTC holding under management reached $236 million. The asset manager bought 414 BCH worth approximately $218,000 in a single day as the total value of its BCH holding stands at around $137 million. Grayscale has a total of 12.29 million Ethereum classic worth nearly $120 million. Furthermore, the firm has ZEC, ZEN, and XLM under management.

Finance Magnates reported in January about the liquidation of Grayscale’s XRP Trust following the lawsuit by the SEC against Ripple Labs and the executives of the company. The company reported its biggest cryptocurrency asset raise on 15 January 2021 with more than $700 million into its investment products.

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