Grayscale Now Has $33 Billion Worth of Cryptocurrency AUM

Grayscale, the world’s largest cryptocurrency asset manager, recently released an update regarding the company’s digital assets under management (AUM). According to the latest numbers, the New York-based crypto asset management company now has $33.6 billion worth of digital assets under management.

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term (BTC) is the most valuable holding of Grayscale as the company has more than 650,000 BTC with a total worth of over $24 billion. The company saw a jump in the total value of its Bitcoin holdings due to the recent spike in the world’s largest cryptocurrency. Currently, BTC is up by approximately 28% in the last seven days.

Grayscale’s Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term (ETH) Trust has more than 3 million ETH with a total value of nearly $7.2 billion. Similar to Bitcoin, the world’s second-most valuable cryptocurrency saw strong gains in the last few days. ETH spiked by 29% in the last seven days. Grayscale is one of the largest institutional holders of Ethereum. The digital asset manager accelerated its ETH accumulation significantly in the last six months.

Cryptocurrency AUM

In May 2021, the total value of Grayscale’s cryptocurrency assets under management touched an all-time high of $52 billion. Since then, the company saw a decline in its crypto AUM due to the latest correction in Bitcoin, Ethereum and other cryptocurrency assets. In March 2021, the company introduced several new cryptocurrency investment trusts to expand its portfolio. Earlier this month, Grayscale and CoinDesk Indexes launched Decentralized Finance (DeFi) fund and index.

“Grayscale continues to focus on creating opportunities for investors to access new, exciting parts of the digital asset ecosystem. The emergence of decentralized finance protocols provides clear examples of technologies that can redefine the future of the financial services industry. We’re proud to offer investors exposure to DeFi through Grayscale’s trusted, secure and industry-leading investment product structures,” Michael Sonnenshein, CEO of Grayscale Investments, mentioned at the launch of the company’s DeFi fund.