Crypto Giant Grayscale Now Manages Nearly $60,000,000,000 in Total Assets
Crypto titan Grayscale Investments has nearly $60 billion in total assets under management (AUM) after declining crypto market prices pushed their total down to $58.2 billion as of Friday afternoon.
Grayscale’s assets under management include more than $41.3 billion in the Grayscale Bitcoin Trust and more than $14.5 billion in the company’s Ethereum (ETH) Trust.
11/12/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
Total AUM: $58.2 billion$BTC $BAT $BCH $LINK $MANA $ETH $ETC $FIL $ZEN $LTC $LPT $XLM $ZEC $UNI $AAVE $COMP $CRV $MKR $SUSHI $SNX $YFI $UMA $BNT $ADA $SOL pic.twitter.com/gMTlowKZA4
— Grayscale (@Grayscale) November 12, 2021
Earlier this week, Grayscale briefly surged past SPDR Gold Trust (GLD), the world’s largest gold fund, in terms of AUM. SPDR Gold Shares managed about $58.31 billion in assets as of November 10th, according to YCharts.
Grayscale chief executive Michael Sonnenshein notes on Twitter that the Grayscale Bitcoin Trust (GBTC) also had $473.7 million in notional daily volume this week, more than ProShares Bitcoin Futures exchange-traded fund (ETF), which goes by the ticker BITO.
…and $GBTC did $473.7m in notional volume
— Michael Sonnenshein (@Sonnenshein) November 10, 2021
Last month, Grayscale announced plans to convert GBTC into an ETF. Unlike ProShares’ Bitcoin Futures product, Grayscale filed with the U.S. Securities Exchange Commission (SEC) for a Bitcoin spot ETF, which would track the crypto asset’s current price.
Grayscale initially applied to convert GBTC into an ETF in 2016 before withdrawing the application months later over concerns that the regulatory environment was not ready for such a product.
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