Share this article
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.
Updated Dec 10, 2022, 9:29 p.m. Published Nov 18, 2020, 12:08 a.m.
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.
- 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
More For You
Strategy aim to reduce volatility, enable consistent bitcoin buying, and create the only bi-monthly paying preferred shares in the market.
What to know:
- Semi-monthly payouts are expected to reduce the typical post-ex-dividend price drop, lower volatility, and help keep STRC trading closer to its $100 par value.
- More frequent distributions should reduce reinvestment lag and spread buying activity more evenly throughout the month, allowing Strategy to purchase bitcoin at a steadier pace while...
