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Milestone: Grayscale reports $30 billion in total AUM

Cryptopolitan


TL;DR Breakdown:

  • Grayscale has reported a $30 billion AUM for its crypto products.
  • The Ethereum Trust has seen massive growth amid demand.

Leading digital assets manager, Grayscale Investments, has reached a milestone record of $30 billion in total assets under management (AUM). This is the highest valuation ever recorded for the company’s crypto products, which target institutional investors. Notably, the investment company has been purchasing a lot of Bitcoin (BTC) and Ether (ETH) since it reopened doors for new investments in most of the large-cap crypto products.

Grayscale GETH nears 5 billion

Grayscale’s Bitcoin product still holds a significant percentage of the total AUM of $30.1 billion. Following the update, the investment company sees a valuation of about $24.3 billion in Bitcoin under management. As of January 19, the company added about 16,000 BTC, raising its holdings to 632.8K BTC. However, the assets have been increased to 649.1K BTC as of today, showing an increasing level of demand for the crypto, especially from institutions.

The Ethereum Trust is another crypto product that gained a notable increase. Per the update from Grayscale, its ETH under management is almost worth $5 billion. The increase follows the company’s recent purchase of 47,000 ETH, worth about $76.7 million in today’s price. This massive buy simply indicates a strong demand for cryptocurrency. According to the information on ByBt, the investment company has a total of 3.02 million ETH under management.

More demand from institutions

Grayscale currently supports eight single cryptocurrency products for institutions, most of which are growing with demands. However, the investment manager is also looking to provide institutions more exposure to altcoins. Starting with AAVE, the native digital currency of Aave lending protocol, the company plans to list DeFi tokens and other alternative coins like Cosmos, Polkadot, and Monero, as Cryptopolitan reported.



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