Grayscale Now Has $13B in Crypto Assets Under Management

Digital asset manager Grayscale Investments has passed another milestone, reaching $13 billion in assets under management on Dec. 14 for the first time.

• Data tweeted by the firm showed the largest holdings remain in bitcoin, with the Grayscale Bitcoin Trust having $10.82 billion in the top crypto asset. The firm's Ethereum Trust now has $1.72 billion in AUM.
• Grayscale also has trusts for litecoin ($74.8 million), bitcoin cash ($58.6 million), ethereum classic ($74.3) and others with less significant holdings including XRP, stellar lumens and zcash.

• The Ethereum Trust recently added another 131,455 ether, which was valued at $74 million on Dec. 10, according to an SEC filing.
• Michael Sonnenshein, managing director at Grayscale Investments, told Bloomberg in a recent interview, “Over the course of 2020 we are seeing a new group of investors who are Ethereum first and in some cases Ethereum only. There’s a growing conviction around Ethereum as an asset class.”
• New York-based Grayscale is owned by Digital Currency Group, the parent company of CoinDesk.

See also: Guggenheim Fund Files to Be Able to Invest Up to Almost $500M in Bitcoin Through GBTC