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Grayscale's Crypto Assets Under Management Break $10B
Price appreciation in all cryptocurrencies this month is a factor behind the growth, but so are inflows.
In another sign of renewed exuberance in cryptocurrency markets, Grayscale Investments has broken above $10 billion in digital assets under management for the first time.
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- Disclosed Tuesday evening, the New York-based firm now oversees $10.4 billion in assets including bitcoin, bitcoin cash, ether, horizen, ethereum classic, litecoin, stellar, XRP and zcash.
- That's up from $7.6 billion on Oct. 30, according to the firm's November reporthttps://grayscale.co/wp-content/uploads/2020/11/Grayscale-Investor-Deck-November-2020.pdf.
- Price appreciation in all cryptocurrencies this month is a factor behind the growth, but so are inflows: Grayscale took in $262.3 million last week alone, Managing Director Michael Sonnenshein tweeted Friday.
- The assets are held across nine single-asset investment trusts and a diversified fund. Shares in these vehicles are offered directly only to accredited investors, but most of them can be publicly traded on the over-the-counter markets.
- Grayscale is owned by Digital Currency Group, which is also the parent company of CoinDesk.
See also: Galaxy Digital Gets Initial Approval for New Bitcoin Fund in Canada
Sebastian Sinclair
Sebastian Sinclair is the market and news reporter for CoinDesk operating in the South East Asia timezone. He has experience trading in the cryptocurrency markets, providing technical analysis and covering news developments affecting the movements on bitcoin and the industry as a whole. He currently holds no cryptocurrencies.
