Grayscale’s Continuous Growth Hitting 3.8 Billion USD

Endy Callahan

Funds dealing with digital assets keep growing and developing all around the globe. The crypto community keeps track of such organizations and tries to predict their future. One of the fastest developing funds is Grayscale – it’s an American project managing digital assets whose growth has significantly increased in the past year. According to the company’s reports, the teams’ Bitcoin holdings now exceed three billion USD. Currently, the brand’s total assets under management have reached 3.8 billion USD.

Being one of the leading digital asset management funds, Grayscale seems to be quite efficient and productive. Their approach is very serious and this year we see that the firm’s AUM is hitting new records and approaching new highs.

Tweets from major influencers and analysts report that this week the company’s AUM has finally hit 3.8 billion USD. Experts are analyzing the charts and looking into the details of the statistics trying to predict future growth. If compared to the statistics of May 2019, we will see a surge of more than eighty percent in the past year. Just one year ago the company’s AUM was 2.1 billion USD.

Stable Growth and Fast Development

Grayscale fully trusts Bitcoin and considers this cryptocurrency quite reliable. The company’s attitude towards BTC keeps on leading several other cryptocurrencies that the fund possesses. According to the most recent reports, it accounts for 3.36 billion US dollars. This, in turn, would make up eighty-nine percent of the company’s total AUM.

The value of Bitcoin investment trust that Grayscale made has eventually surged seventy-six percent from 1.9 billion U.S. dollars that the firm had last year. On the other hand, experts mention that BTC trust’s share of the company experienced a slight decline. The diagrams show that it slipped from ninety-four percent in May 2019.

The spike of Bitcoin trust is massive. All this may have come due to a visible increase in the Bitcoin price year-on-year. At the moment, Bitcoin trades at nine thousand seven hundred and forty-five USD. One year ago the figures were approximately thirty percent lower. In 2019, the figures did not surpass seven thousand six hundred USD.

Considering the recent data, Grayscale’s ETH trust is currently the second most significant trust among the ten trusts in the company. The firm’s ETH trust can presently account for two hundred and eighty-nine million USD. The next largest trust after ETH is ETC. The latter holds seventy-three million USD.

Grayscale appeared thanks to Digital Currency Group. The studio created and launched their new product seven years ago, in 2013. Nowadays this is one of the leading crypto investment funds. The organization operates under the regulation and supervision of global authorities. One of the institutions controlling the company’s work is the Financial Industry Regulatory – the authority that supervises and approves many other funds in the United States of America. The team has obtained approval and certification from the Securities Exchange Commission. Grayscale has proved to be a reliable partner and has turned into the leading digital asset trust. The firm started reporting to the Securities Exchange Commission a few months ago, at the beginning of this year.

Only four months later, in April, the company reported that the organization was holding approximately 1.7 percent of total Bitcoin’s supply in the firm’s BTC trust. More than that, the representatives announced that Grayscale experienced its largest quarter in history despite the crisis and serious problems that the coronavirus pandemic fueled last month.