Grayscale’s Net Assets Under Management Closes in on $50 Billion

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In Brief
  • Grayscale Investments has seen its net Assets Under Management soar to over $46 billion this year.

  • The growth runs in parallel with a period of stellar performance for cryptocurrencies all-round.

  • As demand for cryptocurrency investments continues to climb, several ETF applications are being put on regulators' desks worldwide.

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Grayscale Investments’ latest figures show the Assets Under Management (AUM) for its cryptocurrency-based trusts is nearing the $50 billion mark.

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A Major Milestone

Cryptocurrency investment management company, Grayscale Investments, has revealed its Assets Under Management (AUM) for its cryptocurrency-related products is now $46.1 billion.

The company’s most popular investment product, the Grayscale Bitcoin Trust (GBTC) accounted for $38.1 billion (82.64%) of that figure, with the second most popular, the Grayscale Ethereum Trust (ETHE) accounting for just under $6.6 billion (14.26%).

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Several other cryptocurrency trusts account for the rest of that total, including investment products for Stellar Lumens (XLM), Bitcoin Cash (BCH), and Litecoin (LTC).

Grayscale Investments is a cryptocurrency-focused investment company that provides investors investment vehicles for investment in the cryptocurrency space. The company manages each investment vehicle, allowing its clients to gain exposure to the volatile market whilst reducing the associated risks.

The company currently offers 14 cryptocurrency investment vehicles.

Grayscale Expands

Last month, Grayscale added five new cryptocurrencies to its investment offering. These included Chainlink (LINK), Basic Attention Token (BAT), Filecoin (FIL), Livepeer (LPT and Decentraland (MANA).

These new products attracted $47.6 million worth of investment from Grayscale clients in less than a month. Indeed, the compnay is responding to a wider demand for cryptocurrency investments, coming from larger, mainstream institutions.

In February, the company made headlines after purchasing 53,000 Ethereum (ETH) in one day to support its popular ETHE product. In fact, Grayscale added 195,000 ETH to ETHE in the first two weeks of February alone.

The beginning-of-year spending follows an enthusiastic ETH purchasing spree for Grayscale, which saw the company purchase 50% of all Ethereum mined in 2020.

ETF Season on the Horizon?

With the cryptocurrency market attracting increased interest from mainstream investors, a wave of applications from large investment managers for exchange-traded funds (ETFs) are making their way onto regulators’ desks.

Earlier this year, Canada approved a Bitcoin (BTC) ETF proposed by Purpose Investments named the Purpose Bitcoin ETF (BTCC). In the first two days following its launch, the fund attracted over $400 million in investment.

Several other companies have launched similar products worldwide, including the BCMG Genesis Bitcoin Fund-I (BGBF-I), Malaysia’s first ever cryptocurrency ETF.

Grayscale states it is committed to transforming its popular GBTC Trust into an ETF as soon as regulators in the United States allow. If this happens soon, GBTC will become the biggest cryptocurrency ETF in the world overnight.

All eyes on the ETF space.

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Emmanuel entered the cryptocurrency space in 2013 as a cryptocurrency broker. He is a crypto-enthusiast, entrepreneur, and investor, who has built and led several projects and communities in the space. He is CEO and co-founder of Provence Intelligence, a boutique crypto-consultancy firm that aims to bridge the gap between the cryptocurrency and DLT space and the traditional world. Interests include DeFi, non-blockchain DLTs, and the synthetic derivatives space.

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